IFRS 4 'Insurance contracts'

Fiat Chrysler Automobiles N.V. Monitor

Fiat Chrysler Automobiles N.V. Annual Report 2017
CR Monitor Issue: 
2018/0402
Company covered: 
Fiat Chrysler Automobiles N.V.
Period End: 
31 December, 2017
Report issued on 03 April 2018 covered the following practice issues:
Pronouncements
Adoption of amendment to IAS 7 "Statement of cash flows" results in additional disclosure.
Pronouncements
Extended disclosure in respect of the future impacts of new standards and amendments.
Change
Subsidiary de-consolidated due to a loss of control linked to restrictive monetary policy and inability to pay dividends.

Danske Bank A/S Monitor

Danske Bank A/S Annual Report 2017
CR Monitor Issue: 
2018/0319
Company covered: 
Danske Bank A/S
Period End: 
31 December, 2017
Report issued on 27 March 2017 covered the following practice issues:
Pronouncements
Detailed disclosures in respect of future impacts of new standards including quantification in respect of IFRS 9 "Financial instruments".
Change
Disclosure of the impact of inter-segment transfers.
Restatement
Restatement of statement of changes in equity without explanation.

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.

Admiral Group plc Monitor

Admiral Group plc Annual Report 2016
CR Monitor Issue: 
2017/1112
Company covered: 
Admiral Group plc
Period End: 
31 December, 2016
Report issued on 28 November 2017 covered the following practice issues:
Change
Post balance sheet change in discount rate taken into account in valuation of insurance liabilities.
Change
Presentation of a sensitivity analysis in respect of discount rate applied when valuing insurance liabilities.
Restatement
Restatement of cash flow statement following reclassification.
Change
Market risk identified as a new principal risk factor.
Change
Presentation of audit report enhanced by inclusion of audit approach summary and diagrams in respect of audit scope and materiality.
New
Additional performance measures discussion introduced.

Lloyds Banking Group plc Monitor

Lloyds Banking Group plc Annual Report 2016
CR Monitor Issue: 
2017/1104
Company covered: 
Lloyds Banking Group plc
Period End: 
31 December, 2016
Report issued on 14 November 2017 covered the following practice issues:
Pronouncements
Detailed disclosure of expected impacts on adoption of new financial instruments standard.
Change
Recognition of gain in other comprehensive income following re-classification of instrument from held-to-maturity to available-for-sale.
Restatement
Restatement of segment reporting information following a change in management structure.
Change
Identification of new areas of audit focus in respect of significant transactions and privileged access to information technology.
Change
Reconciliation of movements disclosed in relation to non-life insurance contracts.

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.

Zurich Financial Services Ltd Period End 31 December 2010

Zurich Financial Services Ltd Annual Report 2010
CR Monitor Issue: 
2011/0403
Company covered: 
Zurich Financial Services Ltd
Period End: 
31 December 2010
Report issued on 21 April 2011 covered the following practice issues:
Change
Decision to hedge leads to change in policy for measuring underlying insurance liabilities.
Inconsistent
Two newly acquired subsidiaries not consolidated.
Restatement
Change in method of, and correction of errors in, classification prompt prior year adjustments.
Restatement
Inconsistent disclosures of amounts of restatements.

Danske Bank A/S Period End 31 December 2009

Proposal to end deferral loophole on corporate bonds draws comment
Danish Bank Danske Bank draws attention, in its discussion of impending changes in IFRS, to the implicit intention of the International Accounting Standards Board no longer to permit deferral of movements in the fair value of corporate bonds, the company having last year adopted this classification for DKK117 billion corporate bonds.

Thomas Cook Group plc Period End 30 September 2008

Thomas Cook Group Annual Report 2008

Pro forma statements published following change of year end date
UK leisure company Thomas Cook changes its reporting date from 31 October to 30 September and publishes pro forma financial statements assuming the year end date had always being 30 September and MyTravel had always been its subsidiary.