IFRS 5 'Non-current assets held for sale and discontinued operations'

Tesco PLC Monitor

Tesco PLC Annual Report 2017
CR Monitor Issue: 
2017/0904
Company covered: 
Tesco PLC
Period End: 
25 February, 2017
Report issued on 08 September 2017 covered the following practice issues:
Change
Auditors identify "Tesco Bank payment fraud" as a risk of material misstatement.
Change
Balance sheet format altered to correctly present assets and liabilities as either current or non-current.
Change
Impairment recognised as adjusting post balance sheet event as part of discontinued operations.
New
Discussion of critical judgements introduced.
Restatement
Restatement of carrying amount of non-current liabilities within material joint venture to reflect credit risk valuation adjustments.

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.

Euromoney Institutional Investor PLC Monitor

Euromoney Institutional Investor PLC Annual Report 2016
CR Monitor Issue: 
2017/0806
Company covered: 
Euromoney Institutional Investor PLC
Period End: 
30 September, 2016
Report issued on 08 August 2017 covered the following practice issues:
Restatement
Segment reporting restated following implementation of new business strategy.
Change
Mutli-employer pension scheme accounted for as a defined benefit scheme for the first time.
Change
Auditors report extended by inclusion of disclosure of new areas of audit focus.
Change
Method of valuation disclosed in relation to business held for sale.
Change
Extended analysis of deferred income

Rentokil Initial plc Monitor

Rentokil Initial plc Annual Report 2016
CR Monitor Issue: 
2017/0802
Company covered: 
Rentokil Initial plc
Period End: 
31 December, 2016
Report issued on 1 August 2017 covered the following practice issues:
Change
Assets and liabilities in respect of disposal group disclosed in aggregate on the face of the statement of financial position.
Pronouncements
Detailed disclosure about alternative performance measures in accordance with new guidelines
Pronouncements
Introduction of brief disclosure about impacts of new leasing and revenue standards.

OMV AG Monitor

OMV AG Annual Report 2016
CR Monitor Issue: 
2017/0801
Company covered: 
OMV AG
Period End: 
31 December, 2016
Report issued on 1 August 2017 covered the following practice issues:
Pronouncements
Disclosure of key audit matters in the auditors' report as per requirement of new audit standard.
Change
Reallocation of goodwill between cash generating units (CGUs) as a result of changes in managerial structure.
Change
Contribution of acquired business to revenue and profit dislosed.
New
Introduction of table disclosing major class of assets and liabilities of disposal groups.

UPM-Kymmene Corporation Monitor

UPM-Kymmene Corporation Annual Report 2016
CR Monitor Issue: 
2017/0706
Company covered: 
UPM-Kymmene Corporation
Period End: 
31 December, 2016
Report issued on 11 July 2017 covered the following practice issues:
Change
Underlying reasons for recognition of impairments disclosed.
Change
Change in presentation of cash flow statement to add separate line items for net cash flows from investment hedges and net cash flows from derivatives.
Pronouncements
Auditors report enhanced by inclusion of discussion of key audit matters in line with new auditing standard.
Pronouncements
Introduction of a discussion on new accounting standards in relation to revenue, financial instruments and leases.
New
Additional discussion on Alternative performance measures included.

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.

Senior plc Monitor

Senior plc Annual Report 2016
CR Monitor Issue: 
2017/0512
Company covered: 
Senior plc
Period End: 
31 December, 2016
Report issued on 23 May 2017 covered the following practice issues:
Change
Tabular disclosure of principal risks includes new risk factors in respect of "Geopolitical impact" and "cyber/information security".
Pronouncements
Discussion of impacts of new standards added to accounting policies note.
Pronouncements
Quantified disclosure of the impacts of IFRS 16 "Leases"
Change
Property reclassified as asset held for sale.
Change
New summary section included in audit report.

Bayer AG Monitor

Bayer AG Annual Report 2016
CR Monitor Issue: 
2017/0502
Company covered: 
Bayer AG
Period End: 
31 December, 2016
Report issued on 2 May 2017 covered the following practice issues:
Change
Change in reporting segments following the introduction of new organisational structure.
Change
Results of discontinued operations analysed by business.
Pronouncements
Introduction of discussion of key audit matters in the auditor’s report.