IFRS 3 'Business combinations'

Royal Dutch Shell PLC Monitor

Royal Dutch Shell PLC Annual Report 2017
CR Monitor Issue: 
2018/0808
Company covered: 
Royal Dutch Shell PLC
Period End: 
31 December, 2017
Report issued on 14 August 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 9 "Leases", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Extended disclosure of key audit matters in the audit report.
Change
Format of strategic report disclosure of key performance indicators altered
Change
Fair value of 50% joint venture stake represents value of consideration paid in business combination.
Restatement
Restatement of segment geographical entity wide disclosures.

Deutsche Post AG Monitor

Deutsche Post AG Annual Report 2017
CR Monitor Issue: 
2018/0805
Company covered: 
Deutsche Post AG
Period End: 
31 December, 2017
Report issued on 07 August 2018 covered the following practice issues:
Pronouncements
Disclosure of the future impacts of new standards that are currently not effective: IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 Statement of cash flows".
Change
Detailed disclosure in respect of business acquired during the year.
Restatement
Restatement of segmental disclosures following reclassification of businesses between segments.
Change
Reduction in useful life of intangible asset results in additional amortisation.

Reckitt Benckiser Group plc

Reckitt Benckiser Group plc Annual Report 2017
CR Monitor Issue: 
2018/0716
Company covered: 
Reckitt Benckiser Group plc
Period End: 
31 December, 2017
Report issued on 24 July 2018 covered the following practice issues:
Change
Detailed disclosure in respect of discontinued operations.
Pronouncements
Presentation of a discussion on the impacts of new standards that are issued but not yet effective including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Pronouncements
Format of net debt reconciliation altered following adoption of amendment to IAS 7 "Statement of cash flows".
Change
Detailed disclosure in relation to business combination during the year including a qualitative description of what goodwill represents.
Change
Discussion of key audit matters included in the audit report.
Restatement
Restatement of segmental disclosures linked to business acquisition.

Millennium & Copthorne Hotels Plc Monitor

Millennium & Copthorne Hotels Plc Annual Report 2017
CR Monitor Issue: 
2018/0612
Company covered: 
Millennium & Copthorne Hotels Plc
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers” and IFRS 16 “Leases”.
Change
Disclosure of key audit matters in the audit report.
Change
Goodwill recognised in respect of business combination fully impaired in year of acquisition.

Informa PLC Monitor

Informa PLC Annual Report 2017
CR Monitor Issue: 
2017/0711
Company covered: 
Informa PLC
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Restatement
Restatement of provisional business acquisition amounts following finalisation of fair values.
Change
Disclosure of new key audit matter in the audit report.
Change
Separate disclosure of directors and auditors responsibilities in the audit report.
Change
Extended risk disclosures including identification of new principal risk factor.
Pronouncements
Quantified information disclosed in relation to the future impact of IFRS 15 "Revenues from contracts with customers".

Inchcape plc Monitor

Inchcape plc Annual Report 2017
CR Monitor Issue: 
2018/0710
Company covered: 
Inchcape plc
Period End: 
31 December, 2017
Report issued on 29 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers” and IFRS 16 “Leases”.
Change
Discussion of key audit matters included in auditors' report.
Change
Prior year provisional business combination amounts finalised.
Restatement
Restatement of segmental information linked to business acquired.

Beazley plc Monitor

Beazley plc Annual Report 2017
CR Monitor Issue: 
2018/0616
Company covered: 
Beazley plc
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of new standards: IFRS 17 "Insurance contracts"; IFRS 16 "Leases"; IFRS 9 "Financial instruments"; and IFRS 15 "Revenues from contracts with customers".
New
Recognition of intangible assets following a business combination.
Restatement
Restatement of segmental reporting structure.
Change
High yield bond funds included in analysis of unconsolidated structured entities.
Change
Auditors' report includes separate sections discussing director and auditor responsibilities.
Change
Extended disclosure of principal risks.

Michelin Monitor

Michelin Annual Report 2017
CR Monitor Issue: 
2018/0614
Company covered: 
Michelin
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Pronouncements
Extended discussion in respect of new accounting standards including IFRS 9 "Financial instruments" and IFRS 15 "Revenues from contracts with customers".
Restatement
Prior year restatement recognised in relation to cash and cash equivalents.
Change
Alteration to depreciation life accounted for as a change in accounting estimate.
Change
Intangible assets recognised following a business acquisition.

UCB SA Monitor

UCB SA Annual Report 2017
CR Monitor Issue: 
2018/0611
Company covered: 
UCB SA
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Pronouncements
Early adoption of IFRS 15 "Revenue from contracts with customers" using a full retrospective approach.
Pronouncements
Enhanced disclosure in respect of the future impacts of IFRS 16 "Leases".
Change
Fair value of previously held interest in business acquired taken into account in calculation of goodwill.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Change
Discussion of key audit matters included in the auditors' report.
Change
Extended disclosure of principal risks including identification of a new risk factor.

Umicore SA Monitor

Umicore SA Annual Report 2017
CR Monitor Issue: 
2018/0607
Company covered: 
Umicore SA
Period End: 
31 December, 2017
Report issued on 12 June 2018 covered the following practice issues:
Change
Bargain purchase resulting in recognition of business acquisition gain.
Change
Business acquisition loss recognised in respect of acquisition achieved in stages.
Change
Disclosure of share issue and a business acquisition and disposal in a post balance sheet events note.
Pronouncements
Disclosure included in respect of IFRIC 23 "Uncertainty over income tax treatments"