1350 Chemicals

Koninklijke DSM NV Monitor

Koninklijke DSM NV Annual Report 2017
CR Monitor Issue: 
2018/0403
Company covered: 
Koninklijke DSM NV
Period End: 
31 December, 2017
Report issued on 03 April 2018 covered the following practice issues:
Pronouncements
Extended disclosure on the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases".
Restatement
Financial derivatives analysed between current and non-current classifications.
Change
Investing activities cash inflow recognised on disposal of associated undertaking.
Change
Auditors identify disposal of associated undertaking as a key audit matter.

Yara International ASA Monitor

Yara International Annual Report 2016
CR Monitor Issue: 
2017/1109
Company covered: 
Yara International ASA
Period End: 
31 December, 2016
Report issued on 21 November 2017 covered the following practice issues:
Pronouncements
Extended disclosure on expected impacts of impending new revenue standard.
New
Introduction of disclosure in relation to critical judgements.
New
Introduction of tabular presentation explaining future potential reversals of impairment.
Change
Cash flows linked to divested assets disclosed separately in the cash flow statement.
Change
Inclusion of contingent consideration within financial instruments disclosures.
Pronouncements
Detail explanation of amendments to standards that are not yet effective.

Johnson Matthey plc Monitor

Johnson Matthey plc Annual Report 2017
CR Monitor Issue: 
2017/1101
Company covered: 
Johnson Matthey plc
Period End: 
31 March, 2017
Report issued on 7 November 2017 covered the following practice issues:
Change
Tabular presentation of principal risks extended by inclusion of two new risk factors, "maintaining our competitive advantage" and "product quality".
Change
Goodwill recognised on business combinations attributed to opportunities to access expertise and anticipated future synergies.
Change
Added disclosure showing year on year comparison of results on a constant exchange rate basis.
Change
Disclosures on social and environmental reporting extended by inclusion of a materiality assessment in the form of a diagram.
Change
Discussion on non-GAAP measures introduced in a new annual report section.

Koninklijke DSM N.V. Monitor

Koninklijke DSM N.V. Annual Report 2016
CR Monitor Issue: 
2017/1010
Company covered: 
Koninklijke DSM N.V.
Period End: 
31 December, 2016
Report issued on 24 October 2017 covered the following practice issues:
Change
Income statement format altered to exclude disclosure of exceptional items.
Change
Cash received following reduction of holding in associated undertaking reflected as a cash flow from investing activities.
Restatement
Presentation of related party disclosures enhanced to show transactions with associates and joint ventures separately.
Change
Reconciliation of movements in financial instruments extended to include an analysis of loans to associates and joint ventures.
Change
Disclosure of key audit matters extended to include "valuation of a joint venture" and "alternative performance measures" as new areas.
New
Post balance sheet business acquisition highlighted in subsequent events note.

Air Liquide Monitor

Air Liquide Annual Report 2016
CR Monitor Issue: 
2017/1005
Company covered: 
Air Liquide
Period End: 
31 December, 2016
Report issued on 10 October 2017 covered the following practice issues:
Divergence
Profit contribution of acquired business not disclosed.
New
Discontinued operations highlighted on the face of the income statement.
Change
Enhanced disclosure of non-executive director remuneration.
Change
Managing the environment and climate risks identified as new principal risk factor.

Croda International Plc Monitor

Croda International plc Annual Report 2016
CR Monitor Issue: 
2017/0815
Company covered: 
Croda International Plc
Period End: 
31 December, 2016
Report issued on 29 August 2017 covered the following practice issues:
Pronouncements
IFRIC interpretation leads to change in presentation in respect of cash pooling arrangements.
Pronouncements
Summarised non-quantified disclosure of future impacts of IFRS 9 "Financial instruments".
Restatement
Restatement of segment information as a result of product reclassification.
Restatement
Restatement of segment disclosure of total assets without explanation.
Change
Enhancement of risk disclosures through introduction of risk heat map.

Givaudan SA Monitor

Givaudan SA Annual Report 2016
CR Monitor Issue: 
2017/00505
Company covered: 
Givaudan SA
Period End: 
31 December, 2016
Report issued on 09 May 2017 covered the following practice issues:
Pronouncements
Early adoption of IFRS 9 results in a profit reduction following reclassification of available for sale investments as at fair value through profit and loss.
Pronouncements
Disclosure of key audit matters in the auditors report.
Restatement
Segment information restated to show separately by segment property plant and equipment and intangible assets obtained as a result of business acquisitions.

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.

Victrex plc Monitor

Victrex plc Annual Report 2016
CR Monitor Issue: 
2017/0305
Company covered: 
Victrex plc
Period End: 
30 September, 2016
Report issued on 14 March 2017 covered the following practice issues:
Change
Disclosure of estimates and judgements extended to include information in respect of provisions and contingencies.
Change
Disclosure of proposed changes to directors' remuneration policy.

Johnson Matthey Plc Monitor

Johnson Matthey Plc Annual Report 2016
CR Monitor Issue: 
2017/0113
Company covered: 
Johnson Matthey Plc
Period End: 
31 March, 2016
Report issued on 31 January 2017 covered the following practice issues:
Change
Recoverable amount quantified in respect of assets impaired as part of restructuring programme.
Change
Expiry details disclosed in relation to deductible temporary differences, unused tax losses and unused tax credit for which no deferred tax is recognised.
Change
Reclassification of line items in cash flow statement brings presentation into line with IFRS
Change
Graphical presentations added to audit report as part of discussion of materiality and audit scope.
Restatement
Restatement of prior year figures as a result of finalisation of provisionally accounted business acquisition.
Change
Graphical presentation presented to illustrate risk management process.