Post balance sheet events

RSA Insurance Group Monitor

RSA Insurance Group Annual Report 2016
CR Monitor Issue: 
2017/1206
Company covered: 
RSA Insurance Group
Period End: 
31 December, 2016
Report issued on 12 December 2017 covered the following practice issues:
Restatement
Operating activities section of cash flow statement restated following a classification review.
Restatement
Segment reporting restated following introduction of new reporting segment.
Change
Financial instrument disclosures enhanced by introduction of table in respect of netting arrangements.
Change
Disposal of legacy insurance business explained in post balance sheet events note.
Restatement
Restatement of investments considered to be a structured entity following review of the definition.
Change
Capital management disclosures enhanced by inclusion of sensitivity analysis.

SIG PLC Monitor

SIG PLC Annual Report 2016
CR Monitor Issue: 
2017/1203
Company covered: 
SIG PLC
Period End: 
31 December, 2016
Report issued on 05 December 2017 covered the following practice issues:
Change
Recognition of business disposal impairments.
Change
Recognition of goodwill impairments linked to market and macroeconomic uncertainty.
Change
Change in accounting policy in relation to cash pooling arrangements.
Pronouncements
Enhanced disclosure in respect of the future impacts of new accounting standards including IFRS 15 and IFRS 16.
Change
Added disclosure in respect of non-IFRS alternative performance measures.
Change
Loss recognised on closure of pension scheme to future accrual.

Land Securities Group Plc Monitor

Land Securities Group Plc Annual Report 2017
CR Monitor Issue: 
2017/1012
Company covered: 
Land Securities Group Plc
Period End: 
31 March, 2017
Report issued on 31 October 2017 covered the following practice issues:
Change
Consideration of materiality results in aggregation of non-significant amounts on the face of the primary financial statements.
New
Disclosure of non-adjusting post balance sheet events included in the notes to the accounts.
Restatement
Financial instrument and fair value disclosures restated to include other investments for the first time.

Koninklijke DSM N.V. Monitor

Koninklijke DSM N.V. Annual Report 2016
CR Monitor Issue: 
2017/1010
Company covered: 
Koninklijke DSM N.V.
Period End: 
31 December, 2016
Report issued on 24 October 2017 covered the following practice issues:
Change
Income statement format altered to exclude disclosure of exceptional items.
Change
Cash received following reduction of holding in associated undertaking reflected as a cash flow from investing activities.
Restatement
Presentation of related party disclosures enhanced to show transactions with associates and joint ventures separately.
Change
Reconciliation of movements in financial instruments extended to include an analysis of loans to associates and joint ventures.
Change
Disclosure of key audit matters extended to include "valuation of a joint venture" and "alternative performance measures" as new areas.
New
Post balance sheet business acquisition highlighted in subsequent events note.

Burberry Group plc Monitor

Burberry Group plc Annual Report 2017
CR Monitor Issue: 
2017/0908
Company covered: 
Burberry Group plc
Period End: 
31 March, 2017
Report issued on 19 September 2017 covered the following practice issues:
Change
Transactions with non-controlling shareholders lead to acquisition of increased share of economic rights in subsidiaries.
Change
Recognition of treasury shares following share buy back.
Change
Principal risk disclosures expanded to include discussion of Brexit.
New
Disclosure of a post balance sheet agreement to dispose of a business to a third party.
Pronouncements
Un-quantified disclosure as to the future impacts of IFRS 9 "Financial instruments".

Tesco PLC Monitor

Tesco PLC Annual Report 2017
CR Monitor Issue: 
2017/0904
Company covered: 
Tesco PLC
Period End: 
25 February, 2017
Report issued on 08 September 2017 covered the following practice issues:
Change
Auditors identify "Tesco Bank payment fraud" as a risk of material misstatement.
Change
Balance sheet format altered to correctly present assets and liabilities as either current or non-current.
Change
Impairment recognised as adjusting post balance sheet event as part of discontinued operations.
New
Discussion of critical judgements introduced.
Restatement
Restatement of carrying amount of non-current liabilities within material joint venture to reflect credit risk valuation adjustments.

UBM plc Monitor

UBM plc Annual Report 2016
CR Monitor Issue: 
2017/0902
Company covered: 
UBM plc
Period End: 
31 December, 2016
Report issued on 5 September 2017 covered the following practice issues:
Pronouncements
Disclosure of non-quantified impact of amendments to IFRS 2 and new leasing standard IFRS 16.
Change
Disclosure added of reasonably possible changes in assumption that would lead to recoverable amount of goodwill equalling the carrying amount.
Restatement
Restatement of provision in respect of trade receivables without explanation.
New
Subsequent events note added includes disclosure of post balance sheet acquisitions and disposals.
Change
Breakdown of defined benefit pension scheme assets by class in absolute rather than percentage terms.

Millennium & Copthorne Hotels Plc

Millennium & Copthorne Hotels Annual Report 2016
CR Monitor Issue: 
2017/0901
Company covered: 
Millennium & Copthorne Hotels Plc
Period End: 
31 December, 2016
Report issued on 5 September 2017 covered the following practice issues:
Pronouncements
Change in non audit services policy in line with revised ethical guidance and EU directive.
Change
Disclosure of proposed changes in directors' remuneration policy.
Change
Disclosure of post balance sheet acquisition of a lease.

Daimler AG Monitor

Daimler AG Annual Report 2016
CR Monitor Issue: 
2017/0702
Company covered: 
Daimler AG
Period End: 
31 December, 2016
Report issued on 04 July 2017 covered the following practice issues:
Change
Definition of segment assets and liabilities altered to exclude hedging instruments.
Change
Definition of capital management measure altered.
Restatement
Income statement restated on reallocation of amounts from administrative expenses to cost of sales.
Restatement
Related parties note restated to reflect change in amount payable to joint ventures.
Restatement
Restatement of financial instruments subject to master netting arrangements without explanation.
New
Post balance sheet disposal highlighted in subsequent events note.

Genus plc Monitor

Genus plc Annual Report 2016
CR Monitor Issue: 
2017/0408
Company covered: 
Genus plc
Period End: 
30 June, 2016
Report issued on 17 April 2017 covered the following practice issues:
Change
Recognition of gain following change of pension inflation index and a liability linked to minimum funding requirement.
Change
Disclosure of expiry period of deferred tax assets regarding losses available for carry forward.
New
Disclosure of post balance sheet events relating to litigation proceeding and formation of partnership .
Restatement
Cash flow statement disclosure restated to include cash acquired on acquisition in investing activities.
Restatement
Financial instrument disclosures restated to exclude other taxes and social security.
Change
Assets under construction presented as a separate class of property plant and equipment.