Provisions & contingencies

Smith & Nephew plc Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2019/0112
Period End: 
30 June 2018
Listing Status: 
Europe 350
ICB Industry Classification: 
4533 Health Care Providers
Auditor: 
KPMG
Pronouncements
Adoption of IFRS 9 "Financial instruments"
Pronouncements
Adoption of IFRS 15 "Revenue from contracts with customers"
Pronouncements
Disclosure as to the expected future impacts of IFRS 16 "Leases"
Change
Disclosure of a potential liability linked to a European Commission review into UK Controlled Foreign Company tax rules.

Provisions & contingencies - Bayer AG

Period End: 
31 December, 2014
Period End Date: 
2014-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
1353 Commodity Chemicals
Auditor: 
PricewaterhouseCoopers

Provisions & contingencies - Bayer AG

Period End: 
31 December, 2014
Period End Date: 
2014-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
1353 Commodity Chemicals
Auditor: 
PricewaterhouseCoopers

Provisions under IFRS

The focus of this report is the disclsoure of provisions within IFRS financial statements. Included is an examination of company disclosures relating to individual classes of provision such as nature and timing as well as movements during the year. Our analysis is based on the financial statements of 26 large listed European companies drawn from a broad range of countries and industries. 

Siemens AG Period End 30 September 2010

Siemens AG Annual Report 2010
Restatements not fully explained
German engineering company Siemens increases comparative commitments by €450 million without explanation and moves some derivative instruments from current to non-current, but with a discrepancy between the net changes in the balance sheet and the amounts disclosed in an accounting policy note.

Lower growth estimate leads to goodwill impairment
German engineering company Siemens explains the background to a lower growth estimate that has led to €1.15 billion goodwill impairment that significantly reduces profit.

Smiths Group plc Period End 31 July 2010

Smiths Group plc Annual Report 2010
Amounts drawn on standby letters of credit classified as contingent liability
UK technology company Smiths reclassifies as contingent liabilities £40.6 million supported by letters of credit utilised by its pension scheme, representing 28% of the current year total and tells us how a contingent liability is involved.

Another company restates key personnel remuneration
UK technology company Smiths increases comparative short-term remuneration of key management personnel by £1 million, or 16%, to £7.2 million, and tells us why it has restated the figure.