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International Consolidated Airlines Group S.A. Monitor

International Consolidated Airlines Group S.A. Annual Report 2017
CR Monitor Issue: 
2018/1004
Company covered: 
International Consolidated Airlines Group S.A.
Period End: 
31 December, 2017
Report issued on 01 October 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards including IFRS 15 "Revenue from contracts with customers", IFRS 9 "Financial instruments" and IFRS 16 "Leases".
Pronouncements
Disclosure of reconciliation of movements in net debt arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows".
Change
Additional line items included on the face of the income statement.
Restatement
Restatement of the comparative figures with respect to offsetting financial assets and liabilities.
Change
Extended disclosure in respect of reporting segments.

Red Eléctrica Corporación, S.A. Monitor

Red Eléctrica Corporación, S.A. Annual Report 2017
CR Monitor Issue: 
2018/0723
Company covered: 
Red Eléctrica Corporación, S.A.
Period End: 
31 December, 2017
Report issued on 31 July 2018 covered the following practice issues:
Pronouncements
Disclosure extended in respect of the impacts of 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 form financing activities following adoption of amendment to IAS 7 "Statement of cash flows".

Fair value measurement information under IFRS

IFRS 13 “Fair value measurement” sets out a single consistent framework for measuring fair value within IFRS financial statements and outlines a standardised set of disclosures in respect of fair value measurements. IFRS 13 has been mandatory now for some years, with application being required for annual reporting periods beginning on or after 1 January 2013. This report sets out the results of how requirements of the standard have been put into practice, both in terms of measurement and disclosure, in the consolidated financial statements of 139 large public limited companies with year ends between 31 March 2016 and 1 April 2017. It is not an exhaustive study of all aspects of IFRS 13 application and its conclusions are limited to our findings in respect of the areas analysed within the financial statements reviewed.

Recoverable amount disclosures: An emerging issue under IFRS

This report focuses on disclosures related to the recoverable amount of non-current assets or cash generating units as a result of amendments made to IAS 36 “Impairment of assets” following implementation of IFRS 13 “Fair value measurement”. It primarily considers the quantified disclosure of the recoverable amount for non-current assets and cash generating units for which an impairment loss or reversal has been recognised in the current period and disclosures in relation to the method by which such a recoverable amount is determined.