Non-Controlling Interests

Anglo American plc Monitor

Anglo American plc  Annual Report 2018
CR Monitor Issue: 
2019/0624
Company covered: 
Anglo American plc
Period End: 
31 December, 2018
Report issued on 28 June 2019 covered the following practice issues:
Restatement
Segmental information restated due to changes in the segmental structure.
Pronouncements
IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments adopted from 1 January 2018.
Pronouncements
Extended disclosures, including quantification of the expected impact of IFRS 16 Leases.
Change
Additional disclosures in the subsequent events note relating to the termination of a contract.
Change
New section in the auditors’ report on the ‘extent to which the audit was considered capable of detecting irregularities, including fraud’.
Change
Loss on curtailment recognised in the income statement due to a transfer of liabilities in a defined benefit pension plan.

Paddy Power Betfair plc Monitor

Paddy Power Betfair plc Annual Report 2018
CR Monitor Issue: 
2019/0613
Company covered: 
Paddy Power Betfair plc
Period End: 
31 December, 2018
Report issued on 14 June 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
Expected impact of adopting IFRS 16 Leases from 1 January 2019 is quantified.
Change
Disclosure of the merger of a newly acquired and existing business.
Change
£26.5 million impairment recognised against goodwill within the US business.
Change
Gain recognised on disposal of a non-controlling interest.
Change
Disclosure of events after the balance sheet date, including an acquisition for consideration of £101 million.

Renewi Plc Monitor

Renewi Plc Annual Report 2019
CR Monitor Issue: 
2019/0123
Company covered: 
Renewi Plc
Period End: 
31 March, 2018
Report issued on 31 January 2019 covered the following practice issues:
Pronouncements
Disclosure in respect of the impact of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers and IFRS 16 “leases”.
Restatement
Finalisation of provisional fair values in respect of a prior year business acquisition.
Restatement
Restatement of non-controlling interest disclosures.
Change
Changes made to segmental reporting structure following integration of acquired entity.
Change
Exceptional tax credit recognised following change in Belgian tax rate.
Change
Change in allocation of goodwill to cash generating units for impairment test purposes.

Equiniti Group plc Monitor

Equiniti Group plc Annual Report 2017
CR Monitor Issue: 
2018/1114
Company covered: 
Equiniti Group plc
Period End: 
31 December, 2017
Report issued on 20 November 2018 covered the following practice issues:
Change
Disclosure of key audit matters included within the auditor’s report.
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 15 "Revenue from contracts with customers", IFRS 16 "Leases"and IFRS 9 "Financial instruments".
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of an amendment to IAS 7 "Statement of cash flows".
Restatement
Presentation changes made in the income statement.
Change
Disclosure of main risks linked to defined benefit pension scheme.
Restatement
Restatement of basic and diluted EPS.

IMI plc monitor

IMI plc Annual Report 2017
CR Monitor Issue: 
2018/0806
Company covered: 
IMI plc
Period End: 
31 December, 2017
Report issued on 14 August 2018 covered the following practice issues:
Change
Gain recognised linked to pension buy-out.
Change
De-recognition of non-controlling interests in subsidiary and pension partnership.
Change
Disposed business does not meet IFRS 5 definition of discontinued operations.
Change
Disclosure of post balance sheet events including business acquisition and pension scheme wind up.

Siemens AG Monitor

Siemens Aktiengesellschaft Annual Report 2017
CR Monitor Issue: 
2018/0213
Company covered: 
Siemens AG
Period End: 
30 September, 2017
Report issued on 27 February 2018 covered the following practice issues:
Pronouncements
Discussion of key audit matters included in auditors report.
Pronouncements
Disclosure of impacts of new standards issued but not yet applicable including IFRS 9 "Financial instruments" and IFRS 15 "Revenue from contracts with customers"
Change
Added disclosure in respect of a subsidiary with a material non-controlling interest.

Ultra Electronics Holdings plc Monitor

Ultra Electronics Holdings plc Annual Report 2016
CR Monitor Issue: 
2017/1007
Company covered: 
Ultra Electronics Holdings plc
Period End: 
31 December, 2016
Report issued on 17 October 2017 covered the following practice issues:
Change
Business disposal loss highlighted in a separate line on the face of the income statement.
Change
Cash inflow on partial disposal of a subsidiary reflected as a financing cash flow.
Change
Recognition of defined benefit pension gain on closure of scheme to future accrual.
Change
Qualitative disclosure as to the future impacts of IFRS 15 "Revenues from contracts with customers".
Change
Presentation of audit report enhanced by inclusion of a summary of the audit approach and diagrams in respect of materiality and audit scope.
Change
Clear presentation of changes in long-term incentive plan terms.

Babcock International Group Monitor

Babcock International Group Annual Report 2017
CR Monitor Issue: 
2017/1006
Company covered: 
Babcock International Group
Period End: 
31 March, 2017
Report issued on 10 October 2017 covered the following practice issues:
Change
Cash outflow on acquisition of non-controlling interest reflected within financing section of the cash flow statement
Change
Goodwill on business acquisition attributed to market position and the value of the workforce.
Pronouncements
Extended disclosure on the future impacts of IFRS 15 and IFRS 16.
Change
Impairment review leads to goodwill write-down.

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".

Koninklijke Philips N.V. Monitor

Koninklijke Philips N.V. Annual Report 2016
CR Monitor Issue: 
2017/0812
Company covered: 
Koninklijke Philips N.V.
Period End: 
31 December, 2016
Report issued on 22 August 2017 covered the following practice issues:
Restatement
Reclassification of all net defined-benefit post-employment plan obligations under long-term provisions.
Change
Cash flow from sale of non-controlling interest in previously wholly owned subsidiary reflected as arising from financing activities.
Restatement
Reporting segment information restated following a change in organisational structure.
Change
Change in reporting segment profit measure.
Pronouncements
Detailed un-quantified disclosure of future impacts of new revenue standard.
Pronouncements
Un-quantified disclosure of the future impact of new financial instruments standard.