0573 Oil Equipment & Services

Petrofac Limited Monitor

Petrofac Limited Annual Report 2016
CR Monitor Issue: 
2017/1001
Company covered: 
Petrofac Limited
Period End: 
31 December, 2016
Report issued on 03 October 2017 covered the following practice issues:
Pronouncements
Introduction of detailed disclosure on expected impacts of adoption of IFRS 15 "Revenue from contracts with customers".
Restatement
Restatement of reporting segments to reflect the business units through which services are provided.
New
Assets and liabilities held for sale presented separately within the statement of financial position.
Change
Disclosure of proposed changes to directors' remuneration policy.

Amec Foster Wheeler plc Monitor

Amec Foster Wheeler plc Annual Report 2015
CR Monitor Issue: 
2016/1003
Company covered: 
Amec Foster Wheeler plc
Period End: 
31 December, 2015
Report issued on 4 October 2016 covered the following practice issues:
Change
Restatement of financial statements due to finalisation of provisional business combination accounting.
Change
Change in presentation of reporting segments.
New
Recognition of goodwill impairment leading to a net loss for the year.
New
Disclosure of material joint venture.
Change
Disclosure of intention to close defined benefit pension schemes to future accrual.

Hunting PLC Monitor

Hunting PLC Annual Report 2015
CR Monitor Issue: 
2016\0703
Company covered: 
Hunting PLC
Period End: 
31 December, 2015
Report issued on 29 July 2016 covered the following practice issues:
New
Pension curtailment gain results in gain on business disposal.
New
Restructuring cost of US$7.1 million recognised as an exceptional item.
Change
Goodwill impairment test recoverable amount calculation basis changed to fair value less costs to sell basis from value in use.
Change
Presentation of a breakdown of all goodwill allocated to individual cash generating units.
New
Graphical representation of principal risks added charting probability of impact.

John Wood Group PLC Monitor

John Wood Group PLC Annual Report 2015
CR Monitor Issue: 
2016/0603
Company covered: 
John Wood Group PLC
Period End: 
31 December, 2015
Report issued on 07 June 2016 covered the following practice issues:
New
Impairments recognised in relation to a joint venture.
Restatement
Restricted cash excluded from 'Cash and cash equivalents'.
Restatement
Tax credit relating to share option schemes reclassified as transaction with owners in the statement of changes in equity.
New
Summarised financial information disclosed for material joint ventures.
Divergence
Acquisition of non-controlling interest restated from investing cash flow to financing cash flow without explanation.

Hunting PLC Monitor

Hunting Plc Annual Report 2013
CR Monitor Issue: 
2014/1207
Company covered: 
Hunting PLC
Period End: 
31 December 2013
Report issued on 15 December 2014 covered the following practice issues:
Change
Functional and presentation currency change from Sterling to US dollars.
Restatement
Recognition of pension administration costs as incurred increases comparative equity by 0.8%.
Pronouncements
Additional fair value disclosures for financial instruments.
Pronouncements
External auditor extends format of auditor's report.

Business combinations - Amec plc

Period End: 
31 December 2010
Period End Date: 
2010-12-31
Listing Status: 
FTSE 100, S&P Europe 350
ICB Industry Classification: 
0573 Oil Equipment & Services
Auditor: 
KPMG

Hunting plc Monitor

Hunting plc Annual Report 2012
CR Monitor Issue: 
2013/0803
Company covered: 
Hunting plc
Period End: 
31 December 2012
Report issued on 05 August 2013 covered the following practice issues:
Change
Gain on favorable tax settlement included in discontinued operations.
Change
Discontinued gain arises from classification of receipt as capital rather than revenue for tax purposes.
Restatement
Tax balances restated for right of offset and to reflect "underlying positions" in tax jurisdictions.
Pronouncements
Amendment on classification of other comprehensive income adopted early.
Change
Revenue from rental equipment identified separately.

Hunting plc

Hunting plc Annual Report 2011
CR Monitor Issue: 
2012/0501
Company covered: 
Hunting plc
Period End: 
31 December 2011
Report issued on 03 May 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Divergence
Goodwill disclosed by cash-generating unit, indicating prior year non-compliance with disclosure requirement.
Change
Amortisation of intangible assets included under exceptional items.
Change
Impending disposal classified as discontinued operation.
Change
Amortisation of intangibles excluded from measure of segmental profit.
Change
Trademarks presented as separate class of intangible asset.
Change
Amortisation and exceptional items of acquired businesses disclosed.

Technip SA

Technip SA Annual Report 2010
CR Monitor Issue: 
2012/0311
Company covered: 
Technip SA
Period End: 
31 December 2010
Report issued on 20 March 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Change to make fair value hierarchy disclosures in tabular format.
Change
Off-balance sheet commitments allocated to operating and financing activities.
Change
Change to disclose percentage of revenue from a customer representing more than 10% of revenue rather than five major customers.
Change
Changes in working capital now disclosed only in aggregate in cash flow statement.

Saipem SpA Period End 31 December 2010

Saipem SpA Annual Report 2010
CR Monitor Issue: 
2011/1112
Company covered: 
Saipem SpA
Period End: 
31 December 2010
Report issued on 29 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Several changes made to cash flow statement.
Change
Post balance sheet organisational changes.