Directors' remuneration

SEGRO plc Monitor

SEGRO plc Annual Report 2016
CR Monitor Issue: 
2017/0906
Company covered: 
SEGRO plc
Period End: 
31 December, 2016
Report issued on 08 September 2017 covered the following practice issues:
Change
Graph added to directors remuneration report showing potential remuneration under multiple performance scenarios.
Change
Share premium recognised in relation to shares issued under equity placing.
Pronouncements
Introduction of detailed discussion of future impacts of new standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases" plus amendments to IAS 12 "Income taxes".
New
Table showing non-executive directors shareholding introduced to directors remuneration report.
Change
Risk disclosures enhanced by introduction of a risk heat map diagram.
Change
Summarised income statement and balance sheet information disclosed for newly formed joint venture.

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.

Heineken N.V. Monitor

Heineken N.V. Annual Report 2016
CR Monitor Issue: 
2017/0810
Company covered: 
Heineken N.V.
Period End: 
31 December, 2016
Report issued on 22 August 2017 covered the following practice issues:
Pronouncements
IFRIC interpretation leads to change in presentation in respect of cash pooling arrangements.
Change
Reconciliation of non IFRS segment profit measure to profit before tax added.
Change
Proposed change to the measure of performance applied to awards made to directors under a long-term variable award plan.
Change
Disclosure of key assumption applied when calculating fair value less cost of disposal linked to fixed asset impairment.
Restatement
Restatement of figures for "raw material purchase contracts" and "other off-balance sheet obligations".

Grainger plc Monitor

Grainger plc Annual Report 2016
CR Monitor Issue: 
2017/0809
Company covered: 
Grainger plc
Period End: 
30 September, 2016
Report issued on 15 August 2017 covered the following practice issues:
Change
Businesses disposed of reflected as discontinued operations
Change
Movements in investment in joint venture no longer disclosed separately for net assets and loans.
Divergence
No presentation of reconciliations of movements in property, plant & equipment, intangible assets and provisions.
Change
Disclosure of significant accounting policies in each individual relevant note.
Pronouncements
Disclosure of change in non-audit services policy in line with FRC guidance
Change
Directors’ remuneration policy revised to align with strategic goals.

Metro Bank PLC Monitor

Metro Bank PLC Annual Report 2016
CR Monitor Issue: 
2017/0711
Company covered: 
Metro Bank PLC
Period End: 
31 December, 2016
Report issued on 25 July 2017 covered the following practice issues:
Change
Management review includes extended disclosure of risk factors and risk management.
New
Introduction of directors’ remuneration report to the annual report.
Change
Audit report enhanced by inclusion of new sections on audit approach, scope of audit and areas of audit focus, materiality and going concern.
Pronouncements
Capital management disclosures enhanced by introduction of country by country reporting in line with new capital reporting requirements.

Novozymes A/S Monitor

Novozymes A/S Annual Report 2016
CR Monitor Issue: 
2017/0709
Company covered: 
Novozymes A/S
Period End: 
31 December, 2016
Report issued on 18 July 2017 covered the following practice issues:
Pronouncements
Introduction of new section "key audit matters" in auditors' report as a result of change in audit standards.
Change
Allocation of goodwill to cash generating units for impairment test purposes changed.
Change
Breakdown of key management remuneration includes "severance costs"
Change
New principal risk factor added in respect of "Delay of BioAg commercialisation"
Pronouncements
Extended discussion on the impacts of new standards including IFRS 9 and IFRS 16.
Change
Goodwill on acquisition of business attributed to synergy benefits.

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.

WPP plc Monitor

WPP plc Annual Report 2016
CR Monitor Issue: 
2017/0703
Company covered: 
WPP plc
Period End: 
31 December, 2016
Report issued on 4 July 2017 covered the following practice issues:
New
Audit report enhanced by inclusion of summary of audit approach.
Change
Disclosure of proposed changes in directors' remuneration policy.
Pronouncements
Description of transitional methods regarding new revenue standard.
Pronouncements
Un-quantified disclosure about the impact of impending new leasing standard.

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.

Ocado Group plc Monitor

Ocado Group plc Annual Report 2016
CR Monitor Issue: 
2017/0612
Company covered: 
Ocado Group plc
Period End: 
27 November, 2016
Report issued on 27 June 2017 covered the following practice issues:
Restatement
Restatement of statement of other comprehensive income brings presentation into line with IFRS.
New
Disclosure of the external-audit tender process.
Change
Tabular disclosure of principal risks extended to identify Brexit as a new principal risk factor.
Change
Disclosure of proposed changes in remuneration policy and the rationale behind the changes.