Impairments

WPP plc Monitor

WPP plc Annual Report 2017
CR Monitor Issue: 
2018/1003
Company covered: 
WPP plc
Period End: 
31 December, 2017
Report issued on 01 October 2018 covered the following practice issues:
Change
Presentation changes made in the income statement.
Pronouncements
Disclosure extended in respect of the expected impacts of IFRS 9 "Financial instruments" and IFRS 15 "Revenue from contracts with customers".
Change
Extended disclosure in respect of areas of estimation uncertainty and accounting judgement.
Change
Information introduced in relation to US tax changes.
Change
Change in allocation of goodwill for impairment test purposes.
New
Separate Auditors and Directors' responsibility sections included in audit report.

Hikma Pharmaceuticals PLC Monitor

Hikma Pharmaceuticals PLC Annual Report 2017
CR Monitor Issue: 
2018/0918
Company covered: 
Hikma Pharmaceuticals PLC
Period End: 
31 December, 2017
Report issued on 24 September 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Change
Separate director and auditor responsibility sections included in audit report.
Pronouncements
Extended disclosure regarding the future impacts of IFRS 9 “Financial Instruments” and IFRS 15 “Revenue from Contracts with Customers”.
Change
Adoption of new disclosure format in respect of the other comprehensive income statement
Change
Recognition of significant impairment following testing of goodwill for impairment.
Change
Disclosure of impact of changes in US tax laws.

Johnson Matthey PLC Monitor

Johnson Matthey PLC Annual Report 2018
CR Monitor Issue: 
2018/0914
Company covered: 
Johnson Matthey PLC
Period End: 
31 March, 2018
Report issued on 17 September 2018 covered the following practice issues:
Change
Disclosure of two new share-based payment plans.
Pronouncements
Extended disclosure in relation to the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Discussion of key audit matters included in audit report.
Change
Inclusion of separate director and auditor responsibility sections in the audit report.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities.
Change
Disclosure in respect of US tax changes including reduction of corporate income tax rate from 35% to 21%.

FirstGroup plc Monitor

First Group plc Annual Report 2018
CR Monitor Issue: 
2018/0905
Company covered: 
FirstGroup plc
Period End: 
31 March, 2018
Report issued on 10 September 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Pronouncements
Disclosure of reconciliation of movements in liabilities arising from financing activities.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Recognition of goodwill impairment based on difficult US trading conditions.
Change
Disclosure of a net asset breakdown in respect of business combination.
Change
Provision for onerous contract recognised in respect of rail franchise.

Cairn Energy plc Monitor

Cairn Energy plc Annual Report 2017
CR Monitor Issue: 
2018/0906
Company covered: 
Cairn Energy plc
Period End: 
31 December, 2017
Report issued on 10 September 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Change in income statement linked to commencement of production.
Change
Breakdown of production assets presented in a note to the accounts.
Change
Presentation of impairment sensitivity analysis.
Change
Presentation of a reconciliation of movements in liabilities arising from financing activities.

Aviva plc Monitor

Aviva plc Annual Report 2017
CR Monitor Issue: 
2018/0818
Company covered: 
Aviva plc
Period End: 
31 December, 2017
Report issued on 28 August 2018 covered the following practice issues:
Change
Discussion of key audit matters included in auditors' report.
Pronouncements
Extended disclosure in respect of new standards not yet applicable including information in respect of IFRS 17 "Insurance contracts".
Change
Detailed disclosure in respect of business disposals.
Change
Amounts reclassified in relation to equity and expenses.
Change
Recognition of goodwill impairment.
Change
Alteration of segmental reporting structure to reflect reclassification of Irish business.

Capita plc Monitor

Capita plc Annual Report 2017
CR Monitor Issue: 
2018/0816
Company covered: 
Capita plc
Period End: 
31 December, 2017
Report issued on 28 August 2018 covered the following practice issues:
Pronouncements
Early adoption of IFRS 15 "Revenues from contracts with customers".
Change
Disclosure of post balance sheet restructuring plan.
Change
Result form discontinued operations presented separately on the face of the income statement.
Pronouncements
Extended disclosure of the future impacts of IFRS 16 "Leases".
Change
Alteration to segmental reporting reflects new management structure.
Change
Expanded disclosure in respect of impairments and asset write downs.

Voestalpine AG Monitor

Voestalpine AG Annual Report 2017-18
CR Monitor Issue: 
2018/0815
Company covered: 
Voestalpine AG
Period End: 
31 March, 2018
Report issued on 21 August 2018 covered the following practice issues:
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities in line with IAS 17 "Statement of cash flows".
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Disclosure of impairment charge analysed by cash generating unit.

Savills plc Monitor

Savills plc Annual Report 2017
CR Monitor Issue: 
2018/0812
Company covered: 
Savills plc
Period End: 
31 December, 2017
Report issued on 21 August 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Change
Separate disclosure of director and auditor responsibilities in audit report.
Pronouncements
Presentation of a reconciliation of movements in borrowings on adoption of amendment to IAS 7 "Statement of cash flows".
Change
Extended disclosure showing movements in current and non-current deferred consideration.
Pronouncements
Extended disclosure on the expected impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Disclosure in respect of goodwill impairment recognised.

Münchener Rückversicherungs-Gesellschaft AG Monitor

Münchener Rückversicherungs-Gesellschaft AG Annual Report 2017
CR Monitor Issue: 
2018/0724
Company covered: 
Münchener Rückversicherungs-Gesellschaft AG
Period End: 
31 December, 2017
Report issued on 31 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in respect of the impacts of new accounting standards including IFRS 17 "Insurance contracts", IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Change in classification of interest receivable not due.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising form financing activities following adoption of an amendment to IAS 7 "Statement of cash flows".
Pronouncements
Discussion of key audit matters included in the audit report.
Change
Change in segmental reporting structure linked to discontinuation of a business.
Change
Recognition of impairment reversal in respect of deferred acquisition costs.