Corporate governance

Rightmove plc Monitor

Rightmove plc Annual Report 2017
CR Monitor Issue: 
2018/0703
Company covered: 
Rightmove plc
Period End: 
31 December, 2017
Report issued on 03 July 2018 covered the following practice issues:
Pronouncements
Disclosure of the impact of new standards including quantification in respect IFRS 16 "Leases".
Change
Disclosure of financial statement key significant issues in audit committee report.
Change
Assets in progress identified as separate class of property plant and equipment.
Restatement
Restatement of investing cash flows within cash flow statement.
Change
Discussion of key audit matters included in audit report.

The Sage Group plc Monitor

The Sage Group plc Annual Report 2016
CR Monitor Issue: 
2017/0707
Company covered: 
The Sage Group plc
Period End: 
30 September, 2016
Report issued on 17 July 2017 covered the following practice issues:
Change
Designation as "Exceptional (non-recurring) items" identified as a significant accounting and reporting matter in corporate governance report.
Change
'Changes in finance systems and processes' identified as a risk of material misstatement by auditors.
Pronouncements
Un-quantified disclosure added regarding impact of impending revenue recognition standard.
Change
Newly acquired 20.7% holding in investment accounted for as an associate using the equity method.
New
Flowchart added to directors remuneration report showing amended conditions attached to performance share plan.
New
Directors remuneration report enhanced by inclusion of remuneration at a glance section.

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.

Sky plc Monitor

Sky plc Annual Report 2016
CR Monitor Issue: 
2017/0603
Company covered: 
Sky plc
Period End: 
3 July, 2016
Report issued on 06 June 2017 covered the following practice issues:
Change
"Brexit" identified within principal risk disclosures.
Change
Disclosure of non-compliance with the UK Corporate Governance Code.
Change
Disclosure of the introduction of clawback provisions in respect of directors remuneration.
Change
Disclosure of discontinued operations extended to include fair value gain on retained interest.
Change
Financial statements presented for 53 week period.
Pronouncements
Discussion of the impacts of new leasing and revenue standards.

Marston's PLC Monitor

Marston's PLC Annual Report 2016
CR Monitor Issue: 
2017/0307
Company covered: 
Marston's PLC
Period End: 
1 October, 2016
Report issued on 21 March 2017 covered the following practice issues:
Change
Tabular disclosure of principal risks extended to include new risk factors in respect of “business continuity” and “health and safety, including food hygiene”.
Change
Deferred tax liabilities and deferred tax assets are presented in the balance sheet after offsetting.
Pronouncements
Disclosure of changes in non-audit services policy.
Change
Clarity of corporate governance disclosures enhanced through the use of a diagram showing the governance framework.

Cranswick plc Monitor

Cranswick plc Annual Report 2016
CR Monitor Issue: 
2016/1109
Company covered: 
Cranswick plc
Period End: 
31 March, 2016
Report issued on 21 November 2016 covered the following practice issues:
New
Post balance sheet date acquisition disclosed.
New
Goodwill impairment calculated based on value in use of cash-generating unit.
Change
Enhanced auditors’ report presentation as a result of the inclusion of tables and graphs
New
Clarity of corporate governance disclosures enhanced through the use of graphs showing director length of tenure, expertise and sexual diversity balance.
Change
Presentation of strategic report is changed to include identification of strategic pillars.

Mothercare plc Monitor

Mothercare plc Annual Report 2016
CR Monitor Issue: 
2016/1011
Company covered: 
Mothercare plc
Period End: 
26 March, 2016
Report issued on 21 October 2016 covered the following practice issues:
Change
Viability statement looking forward for three years presented.
Restatement
Material restructuring costs presented in aggregate with impairment reversal as an exceptional item.
Pronouncements
Presentation of full list of subsidiaries.

Experian plc Monitor

Experian plc Annual Report 2016
CR Monitor Issue: 
2016/1001
Company covered: 
Experian plc
Period End: 
31 March, 2016
Report issued on 3 October 2016 covered the following practice issues:
Change
Change in income statement format to include non-GAAP measures.
Change
Amortisation expense split into "Benchmark" and "Non-benchmark" expense.
Change
Extended corporate governance code disclosures.
New
Disclosure of contingent liability following data security breach.
Restatement
Contingent consideration included in fair value hierarchy represents correction of a prior year error.
Change
Related party disclosures extended to include transactions with pension plan.

SOCO International plc Monitor

SOCO International plc Annual Report 2015
CR Monitor Issue: 
2016/0909
Company covered: 
SOCO International plc
Period End: 
31 December, 2015
Report issued on 27 September 2016 covered the following practice issues:
Change
Contingent consideration fair valued using non-observable market data reclassified as current asset.
Change
Enhanced clarity of disclosure in respect of audit risk areas of material misstatement.
New
Discussion of risk of material misstatement introduced in respect of contingent consideration receivable.
Pronouncements
Complete list of subsidiary undertakings is disclosed.
New
Graphical presentation introduced to describe the procedure of assessing Board’s independence.

Witan Investment Trust plc Monitor

Witan Investment Trust plc Annual Report 2015
CR Monitor Issue: 
2016/0908
Company covered: 
Witan Investment Trust plc
Period End: 
31 December, 2015
Report issued on 20 September 2016 covered the following practice issues:
Pronouncements
Extended disclosure on directors’ remuneration including clawback and malus provisions.
Change
Maturity analysis of future minimum operating lease payments is presented following renegotiation of lease term.
Pronouncements
Introduction of viability statement looking forward for five years.