IAS 37 'Provisions, contingent liabilities and contingent assets'

Roche Holding Ltd Monitor

Roche Holding Ltd Annual Report 2017
CR Monitor Issue: 
2018/0521
Company covered: 
Roche Holding Ltd
Period End: 
31st December 2017
Report issued on 29 May 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of new accounting standards.
Change
Additional information disclosed in respect of provisions.
Change
Disclosure of IFRS 5 information linked to business disposals.
Change
Change in presentation of cash flows from investing activities.
Change
Calculation of goodwill linked to step acquisitions takes into account fair value of previously held interests.
Change
Newly acquired investment in associate accounted for using the equity method.

Vestas Wind Systems A/S Monitor

Vestas Wind Systems A/S Annual Report 2017
CR Monitor Issue: 
2018/0502
Company covered: 
Vestas Wind Systems A/S
Period End: 
31 December, 2017
Report issued on 01 May 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new accounting standards IFRS 15 and IFRS 16.
Change
Extension of risk disclosures.
Change
Disclosure of contingent liability relating to legal claim.
Change
Disclosure of a sale and lease back transaction.
Change
Disclosure of information in respect of post balance sheet business combination.

Vedanta Resources plc Monitor

Vedanta Resources plc Annual Report 2017
CR Monitor Issue: 
2018/0312
Company covered: 
Vedanta Resources plc
Period End: 
31 March, 2017
Report issued on 20 March 2018 covered the following practice issues:
Change
Internal restructuring leads to reduction in subsidiary percentage shareholding.
Pronouncements
Disclosure on new standards and amendments to existing standards that are not yet adopted.
Change
Auditors report presentation enhanced including inclusion of overview section.
New
Sustainability report disclosures enhanced by inclusion of materiality matrix.
Change
Alternative performance measures section added to annual report.
Change
Increase in decommissioning provision linked to change in prior year discount rate.

Novo Nordisk A/S Monitor

Novo Nordisk A/S Annual Report Year
CR Monitor Issue: 
2018/0307
Company covered: 
Novo Nordisk A/S
Period End: 
31 December, 2017
Report issued on 13 March 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new accounting standards issued but not yet effective including IFRS 9, IFRS 15 and IFRS 16.
Change
Structure of geographic segment information altered.
Change
Additional disclosure in respect of research and development milestone payments
New
Disclosure of social accounting policies extended.

Kingfisher PLC Monitor

Kingfisher PLC Annual Report 2017
CR Monitor Issue: 
2018/0114
Company covered: 
Kingfisher PLC
Period End: 
31 January, 2017
Report issued on 30 January 2018 covered the following practice issues:
Pronouncements
Extended disclosure on the impacts of IFRS 15, IFRS 16 and IFRS 9.
Change
Auditors' report enhanced by inclusion of a tabular summary of the audit approach.
Change
Disclosure of non-GAAP measures extended to include underlying as well as adjusted measures.
Change
Reconciliation of movements in provisions shows release of an unused amount following changes to restructuring plans.
New
Fair value gains recycled from other comprehensive income form part of profit on disposal.
Restatement
Analysis of deferred tax assets and liabilities by type restated to reflect more appropriate allocation of balances.

Booker group plc Monitor

Booker group plc Annual Report 2017
CR Monitor Issue: 
2017/1106
Company covered: 
Booker group plc
Period End: 
24 March, 2017
Report issued on 14 November 2017 covered the following practice issues:
Pronouncements
Improved disclosures on new standards on Revenue from contracts with customers, financial instruments and leases.
Change
Disclosure of risks associated with defined benefit pension schemes.
New
Sensitivity analysis disclosed in respect of property provisions.
Change
Audit report enhanced by inclusion of overview section and diagrams in respect of audit scope and materiality.
Change
Cash flows linked to interest paid re-classified from operating activities to financing activities in the cash flow statement.

Prudential plc Monitor

Prudential plc Annual Report 2016
CR Monitor Issue: 
2017/0912
Company covered: 
Prudential plc
Period End: 
31 December, 2016
Report issued on 26 September 2017 covered the following practice issues:
Pronouncements
Narrative disclosure of impacts of new standards not yet adopted includes IFRS 16 "Leases" and amendments to IFRS 4 "Insurance contracts" and IAS 12 "Income taxes"
Change
Format of statement of financial position altered by exclusion of sub-totals and headings.
Change
Disclosure of critical accounting policies, estimates and judgements enhanced by use of a tabular format.
Change
Provision recognised in respect of sale of annuities following agreement with Financial Conduct Authority.
Change
Disclosure of relationship between tax expense and accounting profit enhanced by inclusion of additional narrative explanation in addition to the presentation of a reconciliation.
Change
Accruals and deferred income included in financial liability contractual maturity analysis.

Grainger plc Monitor

Grainger plc Annual Report 2016
CR Monitor Issue: 
2017/0809
Company covered: 
Grainger plc
Period End: 
30 September, 2016
Report issued on 15 August 2017 covered the following practice issues:
Change
Businesses disposed of reflected as discontinued operations
Change
Movements in investment in joint venture no longer disclosed separately for net assets and loans.
Divergence
No presentation of reconciliations of movements in property, plant & equipment, intangible assets and provisions.
Change
Disclosure of significant accounting policies in each individual relevant note.
Pronouncements
Disclosure of change in non-audit services policy in line with FRC guidance
Change
Directors’ remuneration policy revised to align with strategic goals.

Beiersdorf AG Monitor

Beiersdorf AG Annual Report 2016
CR Monitor Issue: 
2017/0501
Company covered: 
Beiersdorf AG
Period End: 
31 December, 2016
Report issued on 2 May 2017 covered the following practice issues:
Pronouncements
Discussion of future impacts of IFRS 16 "Leases" added to accounting policies note.
New
Disclosure of risks extended by inclusion of risk radar diagram and a discussion of risk rankings.
Change
Extended disclosure of contingent liabilities in respect of the legal risk of pending litigation.

Imagination Technologies Group plc Monitor

Imagination Technologies Group plc Annual Report 2016
CR Monitor Issue: 
2017/0410
Company covered: 
Imagination Technologies Group plc
Period End: 
30 April, 2016
Report issued on 25 April 2017 covered the following practice issues:
Change
Breach of a covenant of a borrowing facility results in re-classification of a liability as current.
Change
Discussion of going concern assumption includes reference to covenant breach.
Change
Disclosure of principal risks extended to include discussion of covenant breach.
Change
Income statement format altered with "separately disclosable items" highlighted in a separate column.
Restatement
Research and development disclosure restated following a more appropriate cost allocation.
New
Separate disclosure of movements in provisions introduced.