2000 Industrials

Sanne Group Plc Monitor

Sanne Group Plc Annual Report 2018
CR Monitor Issue: 
2019/0509
Company covered: 
Sanne Group Plc
Period End: 
31 December, 2018
Report issued on 13 May 2019 covered the following practice issues:
Restatement
Prior year figures restated to correct accounting errors made in respect of goodwill arising on acquisitions.
Restatement
Change to the presentation of the alternative performance measure of diluted underlying earnings per share.
Pronouncements
Adopted IFRS 15 Revenue from Contracts with Customers (IFRS 15) and IFRS 9 Financial Instruments (IFRS 9), from 1 January 2018.
Change
Disclosure on new key audit matters included in the auditors’ report.
Change
Critical accounting judgements and key sources of estimation uncertainty disclosures are extended to include additional information.
Change
Disclosures provided for post balance sheet events.

Wartsila Corporation Monitor

Wartsila Corporation Annual Report 2018
CR Monitor Issue: 
2019/0505
Company covered: 
Wartsila Corporation
Report issued on 03 May 2019 covered the following practice issues:
Restatement
Segmental reporting information is restated following the transfer of activities between segments.
Restatement
Basic and diluted earnings per share figures are rested following a share issue and adoption of IFRS 15 Revenue from contracts with customers.
Pronouncements
IFRS 15 Revenue from contracts with customers is adopted resulting in a change in revenue recognition policy in respect of long-term service and maintenance agreements and oil and gas construction contracts.
Pronouncements
Extended disclosure is given on the expected future impacts of IFRS 16 Leases .
Change
Management judgement and use of estimate disclosures are extended to include additional information in respect of revenue recognition.
Change
A profit is recognised on the disposal of a business.

MTU Aero Engines AG Monitor

MTU Aero Engines AG Annual Report 2018
CR Monitor Issue: 
2019/0503
Company covered: 
MTU Aero Engines AG
Period End: 
31 December, 2018
Report issued on 03 May 2019 covered the following practice issues:
Pronouncements
Adoption of IFRS 9 Financial instruments , IFRS 15 Revenue from contracts with customers and DSRC 4 Interpretation (IFRS) from 1 January 2018.
Pronouncements
Disclosure in respect of the expected impact of IFRS 16 Leases.
Pronouncements
Description of IFRIC 23 Uncertainty over income tax treatments
Change
Additional disclosure in relation to segment reporting.

Schindler Group AG Monitor

Schindler Group AG Annual Report 2018
CR Monitor Issue: 
2019/0423
Company covered: 
Schindler Group AG
Period End: 
31 December, 2018
Report issued on 03 March 2012 covered the following practice issues:
Pronouncements
Adopted IFRS 9 Financial Instruments and IFRS 15 Revenue from contracts with customers from 1st January 2018.
Pronouncements
Disclosures included in respect of the future impact of IFRS 16 Leases effective for accounting periods starting on or after 1 January 2019.
Change
Presentation of income statement has been changed.
Change
Changes made in respect of geographical information.
Change
Disclosure in respect of tax refunds.

Randstad N.V. Monitor

Randstad N.V. Annual Report 2018
CR Monitor Issue: 
2019/0416
Company covered: 
Randstad N.V.
Period End: 
31 December, 2018
Report issued on 23 April 2019 covered the following practice issues:
Pronouncements
Adoption of IFRS 9 “Financial instruments” and IFRS 15 “Revenue from contracts with customers” from 1 January 2018.
Pronouncements
Extended disclosure in respect of the expected impact of IFRS 16 “Leases”.
Change
Additional disclosure in relation to the finalisation of purchase consideration for business combinations.
Change
Disposal of subsidiary and recognition of impairment on goodwill and other intangible assets.
Change
Disclosure in respect of tax transparency, tax strategy and dialogue with tax authorities, and additional disclosure in respect of provision for taxation.
Change
Discussion on a new key audit matter included within the auditor’s report.

Deutsche Post AG Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2019/0417
Period End: 
30 June 2018
Listing Status: 
Europe 350
ICB Industry Classification: 
2771 Delivery Services
Auditor: 
PricewaterhouseCoopers
Pronouncements
Adoption of IFRS 9 Financial Instruments from 1 January 2018, resulted in early recognition of loss allowance.
Pronouncements
Impact on revenue recognition after adoption of IFRS 15 Revenue from Contracts with Customers.
Pronouncements
Recognition of right-of-use assets and lease liabilities on adoption of IFRS 16 Leases.
Change
Discussion on acquisitions made in the current period.

Kuehne + Nagel

kuehne + Nagel Annual Report 2018
CR Monitor Issue: 
2019/0418
Company covered: 
Kuehne + Nagel
Period End: 
31 December, 2018
Report issued on 22 April 2019 covered the following practice issues:
Pronouncements
Impact of adoption of IFRS 9 “Financial instrument” and IFRS 15 “Revenue from contract with customer” discussed in detail.
Pronouncements
Extended discussion on the expected impact of IFRS 16 “Lease”.
Change
A statement on the offset of deferred tax assets and liabilities in the statement of financial position.
Change
Disclosure of a post balance sheet event, namely a share purchase transaction.
Change
Disclosure of a new share-based payment plan.

Siemens AG Monitor

Siemens AG Annual Report 2018
CR Monitor Issue: 
2019/0410
Company covered: 
Siemens AG
Period End: 
30 September, 2018
Report issued on 9 April 2019 covered the following practice issues:
Pronouncements
Extended disclosure as to the expected future impacts of adopting IFRS 9 Financial instruments and IFRS 16 "Leases".
Pronouncements
Early adoption of IFRS 15 Revenue from contracts with customers.
Change
October 2018 business acquisition disclosed as a post balance sheet event.
Change
Changes in deferred tax disclosure, including identification of the impact of the US Tax Cuts and Jobs Act, which cut the US income tax rate from 35% to 21%.
Change
Extension of risk disclosures including the identification of ‘Restructuring’ as a new material strategic risk factor.
Change
Presentation of a reconciliation showing movements in liabilities arising from financing activities.

LafargeHolcim Ltd Monitor

LafargeHolcim Ltd Annual Report 2018
CR Monitor Issue: 
2019/0406
Company covered: 
LafargeHolcim Ltd
Period End: 
31 December, 2018
Report issued on 9 April 2019 covered the following practice issues:
Restatement
IAS 29 Financial Reporting in Hyperinflationary Economies has been applied to the Argentinian figures included in the consolidation.
Pronouncements
IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments at 1 January 2018: the Report discloses the expected impact of new standards as well as amendments to standards to be adopted in the 2019 and 2020 annual reports.
Change
The retirement benefit plan disclosure presenting the disaggregation of plan assets has changed from the prior year. Additional disclosure is provided on the recent High Court ruling on equal guaranteed minimum pensions in the UK.
Change
An additional product line has been included within segmental reporting.
Change
After a reassessment of strategy, two cement factories in China are no longer classified as held-for-sale.

Ferguson Plc Monitor

Ferguson Plc Annual Report 2018
CR Monitor Issue: 
2019/0404
Company covered: 
Ferguson Plc
Period End: 
31 July, 2018
Report issued on 2 April 2019 covered the following practice issues:
Restatement
Disclosure relating to a change in functional currency and presentational currency with restatement of comparative information.
Change
Detailed discussion of a new key audit matter added to the auditor’s report.
Change
Deferred tax changes recognised following changes to US tax legislation.
Change
Disclosure of investments in associates in a separate note with impairment recognized during the year.
Pronouncements
Additional disclosure in respect of the impact of new accounting standards including IFRS 9 “Financial instruments” and IFRS 15 “Revenue from contracts with customers”.