Foreign currencies

Vonovia SE Monitor

Vonovia SE Annual Report 2018
CR Monitor Issue: 
2019/0424
Company covered: 
Vonovia SE
Period End: 
31 December, 2018
Report issued on 29 April 2019 covered the following practice issues:
Pronouncements
Adoption of IFRS 9 “Financial instruments” and IFRS 15 “Revenue from contracts with customers” from 1 January 2018.
Pronouncements
Extended disclosure in respect of the expected impact of IFRS 16 “Leases”.
Change
Disclosure in relation to a newly identified reportable segment
Change
Extended disclosures in respect of foreign currencies.
Change
Extended disclosures in respect of intangible assets.
Change
Disclosure of post balance sheet events.

Ferguson Plc Monitor

Ferguson Plc Annual Report 2018
CR Monitor Issue: 
2019/0404
Company covered: 
Ferguson Plc
Period End: 
31 July, 2018
Report issued on 2 April 2019 covered the following practice issues:
Restatement
Disclosure relating to a change in functional currency and presentational currency with restatement of comparative information.
Change
Detailed discussion of a new key audit matter added to the auditor’s report.
Change
Deferred tax changes recognised following changes to US tax legislation.
Change
Disclosure of investments in associates in a separate note with impairment recognized during the year.
Pronouncements
Additional disclosure in respect of the impact of new accounting standards including IFRS 9 “Financial instruments” and IFRS 15 “Revenue from contracts with customers”.

SIG plc Monitor

SIG plc Annual Report 2017
CR Monitor Issue: 
2018/1017
Company covered: 
SIG plc
Period End: 
31 December, 2017
Report issued on 23 October 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Change
Separate sections outlining director and auditor responsibilities included in auditors' report.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers", and IFRS 16 "Leases".
Restatement
Recognition of prior year adjustment to correct historical overstatement of profits.
Change
Reclassification of exchange difference to profit or loss linked to disposal of foreign operations.
Change
Extended disclosure of non-IFRS performance measures.

Hammerson plc Monitor

Hammerson plc Annual Report 2017
CR Monitor Issue: 
2018/0714
Company covered: 
Hammerson plc
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in respect of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Net exchange gain re-classified to profit and loss account.
Restatement
Restatement of cash flow from operating activities to investing activities.
Change
Enhanced disclosure of accounting policies in relation to disposals and derivatives.
Change
Extended disclosure in respect of pensions scheme including asset and sensitivity analysis information.
Change
Disclosure of key inputs employed in the valuation of Level 3 financial instruments. .

Hiscox Ltd Monitor

Hiscox Ltd Annual Report 2017
CR Monitor Issue: 
2018\0613
Company covered: 
Hiscox Ltd
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Disclosure enhanced in relation to impact of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 17 "Insurance contracts".
Restatement
Restatement of cash flow amount from operating activities to investing activities.
Restatement
Restatement in presentation of investment results to exclude investment management fees.
Change
Extended disclosure of principal risk factors.
Change
Profit and cash flow information disclosed in respect of operations disposed.
Change
Disclosure of change in reporting currency.

Clariant Ltd Monitor

Clariant Ltd Annual Report 2017
CR Monitor Issue: 
2018/0708
Company covered: 
Clariant Ltd
Period End: 
31 December, 2017
Report issued on 10 July 2017 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new standards issued but not yet applicable including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Enhanced disclosure in respect of exchange rate policy.
Change
Reclassification of income taxes in the cash flow statement.
Change
Extended disclosure of key audit matters in the auditors' report.
Change
Reclassification of liabilities to a non-current classification to reflect maturity profile.
Change
Extended disclosure of revenue recognition policy.

Vodafone Group Plc Monitor

Vodafone Group Plc Annual Report 2017
CR Monitor Issue: 
2018/0315
Company covered: 
Vodafone Group Plc
Period End: 
31 March, 2017
Report issued on 27 March 2018 covered the following practice issues:
Change
Subsidiary classified as a discontinued operation following announcement of a plan to contribute it to a newly formed joint venture.
Change
Change in functional currency from pounds sterling to euro.
Change
Reclassification of goodwill to investment in joint venture.
Change
Gain recognised on disposal of subsidiary to a newly formed joint venture.
Change
Post balance sheet disclosure of the transfer of an associated undertaking.
Pronouncements
Disclosure of non-quantified information as to the future impact of IFRS 16.

Johnson Matthey plc Monitor

Johnson Matthey plc Annual Report 2017
CR Monitor Issue: 
2017/1101
Company covered: 
Johnson Matthey plc
Period End: 
31 March, 2017
Report issued on 7 November 2017 covered the following practice issues:
Change
Tabular presentation of principal risks extended by inclusion of two new risk factors, "maintaining our competitive advantage" and "product quality".
Change
Goodwill recognised on business combinations attributed to opportunities to access expertise and anticipated future synergies.
Change
Added disclosure showing year on year comparison of results on a constant exchange rate basis.
Change
Disclosures on social and environmental reporting extended by inclusion of a materiality assessment in the form of a diagram.
Change
Discussion on non-GAAP measures introduced in a new annual report section.

Serco Group Plc Monitor

Serco Group Plc Annual Report 2016
CR Monitor Issue: 
2017/0611
Company covered: 
Serco Group Plc
Period End: 
31 December, 2016
Report issued on 27 June 2017 covered the following practice issues:
Change
Change in accounting policy relating to the foreign exchange movements on investment and financing arrangements.
Restatement
Restatement of prior year comparative segment assets and liabilities.
Change
Goodwill on acquisition of business attributed to preventing disruption to service users.
Change
Deferred tax disclosures enhanced to show amounts in respect of “onerous contract provisions” separate from “other temporary differences”.

KONE Corporation Monitor

KONE Corporation Annual Report 2016
CR Monitor Issue: 
2017/0407
Company covered: 
KONE Corporation
Period End: 
31 December, 2016
Report issued on 18 April 2017 covered the following practice issues:
Change
Enhanced disclosure of new IFRS standards issued but not yet effective including IFRS 15 and IFRS 16.
Pronouncements
Discussion of key audit matters included in audit report.
Change
Foreign currency sensitivity analysis highlighted in a separate note.
Change
Enhanced disclosures on principal risks within the strategic report.