Provisions

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.

Kier Group plc Monitor

Kier Group plc Annual Report 2017
CR Monitor Issue: 
2018/0304
Company covered: 
Kier Group plc
Period End: 
30 June, 2017
Report issued on 06 March 2018 covered the following practice issues:
Change
Mining operations no longer classified as held for sale.
Divergence
Discontinued operations disposal gain included within result from continuing operations.
Change
Business combination disclosures in respect of post balance sheet acquisition.
Change
Provision recognised in relation to safety, health and environment liabilities.
Change
Audit report includes extended information in respect of materiality.
Pronouncements
Non-quantified disclosure of the future impacts of IFRS 16

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.

Standard Life plc Monitor

Standard Life plc Annual Report 2016
CR Monitor Issue: 
2017/0710
Company covered: 
Standard Life plc
Period End: 
31 December, 2016
Report issued on 25 July 2017 covered the following practice issues:
Change
New class of provisions raised in respect of liability linked to enhanced annuities.
Change
Business acquisition results in bargain purchase gain.
Change
Tabular presentation of principal risk factors extended to include two new risks in respect of Investment performance’ and ‘strategic transition and delivery.
Pronouncements
Capital management disclosures enhanced by inclusion of statement of compliance with the Solvency II regulatory regime.

Compass Group PLC Monitor

Compass Group PLC Annual Report 2016
CR Monitor Issue: 
2017/0701
Company covered: 
Compass Group PLC
Period End: 
30 September, 2016
Report issued on 4 July 2017 covered the following practice issues:
Change
Discussion of corporate social responsibility framed in terms of UN set sustainable development goals.
Change
Disclosures added on evaluation of board performance by external independent party.
Change
Directors remuneration report enhanced by inclusion of remuneration summary.
Change
Greater clarity given in respect of description of provision class.
Restatement
Reporting segments restated following a change in management structure.

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.

Victrex plc Monitor

Victrex plc Annual Report 2016
CR Monitor Issue: 
2017/0305
Company covered: 
Victrex plc
Period End: 
30 September, 2016
Report issued on 14 March 2017 covered the following practice issues:
Change
Disclosure of estimates and judgements extended to include information in respect of provisions and contingencies.
Change
Disclosure of proposed changes to directors' remuneration policy.

Provisions - Whitbread PLC

Period End: 
3 March, 2016
Period End Date: 
2016-03-03
Listing Status: 
FTSE 100, S&P Europe 350
ICB Industry Classification: 
5757 Restaurants & Bars
Auditor: 
Deloitte