2791 Business Support Services

Intertek Group Plc Monitor

Intertek Group Plc Annual Report 2016
CR Monitor Issue: 
2017/1008
Company covered: 
Intertek Group Plc
Period End: 
31 December, 2016
Report issued on 17 October 2017 covered the following practice issues:
Pronouncements
Cash pooling arrangement balances presented gross following IFRIC Agenda decision.
Restatement
Segment reporting restated following a change in basis of monitoring performance.
Restatement
Restatement of deferred share awards under long-term incentive plan in order to correct error.
Change
Auditors identify “presentation and valuation of acquisitions” as a new area of audit focus.
Change
Disclosure of new principal risk factors in respect of “customer service” and “Facilities”.
New
Introduction of tabular analysis of net debt.

Babcock International Group Monitor

Babcock International Group Annual Report 2017
CR Monitor Issue: 
2017/1006
Company covered: 
Babcock International Group
Period End: 
31 March, 2017
Report issued on 10 October 2017 covered the following practice issues:
Change
Cash outflow on acquisition of non-controlling interest reflected within financing section of the cash flow statement
Change
Goodwill on business acquisition attributed to market position and the value of the workforce.
Pronouncements
Extended disclosure on the future impacts of IFRS 15 and IFRS 16.
Change
Impairment review leads to goodwill write-down.

Regus plc Monitor

Regus plc Annual Report 2016
CR Monitor Issue: 
2017/0907
Company covered: 
Regus plc
Period End: 
31 December, 2016
Report issued on 19 September 2017 covered the following practice issues:
New
Change in the ultimate parent company following scheme of arrangement.
Change
Identification of "increased competition", "exposure to UK political developments" and "data protection and privacy" as new principal risks.
Change
Disclosure of alternative measure of basic and diluted earnings per share excluding non-recurring items.
Restatement
Restatement of segment geographic revenue analysis without explanation.

Aggreko Plc Monitor

Aggreko Plc Annual Report 2016
CR Monitor Issue: 
2017/0909
Company covered: 
Aggreko Plc
Period End: 
31 December, 2016
Report issued on 19 September 2017 covered the following practice issues:
Restatement
Change in contract organisational management structure leads to restatement of segment disclosures.
Change
Segment disclosures expanded to include geographic breakdown of revenue and non-current assets.
Change
Change in depreciation life of tangible fixed asset accounted for prospectively.
Pronouncements
Expanded disclosure of future impending impacts of new standard IFRS 15 "Revenue from contracts with customers" without quantification.
Change
Auditors discussion of audit scope enhanced by inclusion of pie charts.
Change
Sensitivity analysis included in discussion of area of significant judgement and estimate in relation to taxation.

Bunzl plc Monitor

Bunzl plc Annual Report 2016
CR Monitor Issue: 
2017/0813
Company covered: 
Bunzl plc
Period End: 
31 December, 2016
Report issued on 28 August 2017 covered the following practice issues:
Pronouncements
Change in accounting policy in respect of cash pooling balances in line with IFRIC guidance.
Change
Software assets re-classified from property plant and equipment to intangible assets.
Pronouncements
Disclosure of future impacts of impending standards, IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases", with no quantification.
Change
Results from US arm of European based business reclassified from European to North American segment following change in management location.
New
Tabular disclosure added summarising business acquisitions completed during the year.

Carillion plc Monitor

Carillion plc Annual Report 2016
CR Monitor Issue: 
2017/0708
Company covered: 
Carillion plc
Period End: 
31 December, 2016
Report issued on 18 July 2017 covered the following practice issues:
Restatement
Finalisation of business acquisition fair values including contingent consideration leads to change in goodwill.
Change
Revenue recognition under licensing agreements identified as a risk of material misstatement by the auditors.
New
Introduction of discussion on alternative performance measures.
Change
Non-recurring items including restructuring costs highlighted separately.
Pronouncements
Improved discussion on new standards covering leases, revenue from contracts with customers and financial instruments.
Change
Brexit identified as new risk factor within tabular disclosure of principal risks.

Serco Group Plc Monitor

Serco Group Plc Annual Report 2016
CR Monitor Issue: 
2017/0611
Company covered: 
Serco Group Plc
Period End: 
31 December, 2016
Report issued on 27 June 2017 covered the following practice issues:
Change
Change in accounting policy relating to the foreign exchange movements on investment and financing arrangements.
Restatement
Restatement of prior year comparative segment assets and liabilities.
Change
Goodwill on acquisition of business attributed to preventing disruption to service users.
Change
Deferred tax disclosures enhanced to show amounts in respect of “onerous contract provisions” separate from “other temporary differences”.

Ashtead Group plc Monitor

Ashtead Group Plc Annual Report 2016
CR Monitor Issue: 
2017/0101
Company covered: 
Ashtead Group Plc
Period End: 
30 April, 2016
Report issued on 3 January 2017 covered the following practice issues:
Change
Recognition of impairment loss in respect of customer lists.
Change
Impairment and amortisation of intangible assets identified as exceptional items.
Change
Disclosure of proposed revisions to directors’ remuneration policy.
Change
Developments in directors' remuneration charted against company performance.
Change
"Laws and regulations" identified as a new principal risk factor
Change
Viability statement added outlining operational viability for a period of three years.

HomeServe plc Monitor

HomeServe plc Annual Report 2016
CR Monitor Issue: 
2016/1202
Company covered: 
HomeServe plc
Period End: 
31 March, 2016
Report issued on 02 December 2016 covered the following practice issues:
Change
Re-organisation of share capital structure following payment of special dividend.
Change
Inter-segment trading balances allocated to individual reporting segments when disclosing segment assets and liabilities.
Change
Disclosure about contingent consideration paid in respect of a business acquisition.
New
"Information security" identified as a new area of principal risk.

Babcock International Group PLC Monitor

Babcock International Group PLC Annual Report 2016
CR Monitor Issue: 
2016/1113
Company covered: 
Babcock International Group PLC
Period End: 
31 March, 2016
Report issued on 29 November 2016 covered the following practice issues:
Change
Restatement of financial statements due to finalisation of provisional business combination accounting.
Pronouncements
Presentation of a full list of subsidiaries rather than just principal subsidiaries following a change in the Companies Act.
Change
Viability statement looking forward for three years included within strategic report.