2717 Defense

BAE Systems plc Monitor

BAE systems plc Annual Report 2017
CR Monitor Issue: 
2018/0620
Company covered: 
BAE systems plc
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 15 "Revenues from contracts with customers" including detailed quantification.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Change
Software assets and development costs identified as separate classes of intangible asset.

Chemring Group plc Monitor

Chemring Group plc Annual Report 2017
CR Monitor Issue: 
2018/0507
Company covered: 
Chemring Group plc
Period End: 
31 October, 2017
Report issued on 08 May 2018 covered the following practice issues:
Pronouncements
Early adoption of IFRS 15 "Revenue from Contracts with Customers'.
Pronouncements
Extended disclosure in respect of the expected impacts of IFRS 16 "Leases".
Change
Change in the presentation of cash flow from operating activities.
Change
Discussion of key audit matters included in audit report.
Change
Auditors identify adoption of IFRS 15 as a key audit matter.
Change
Extended disclosure of non-IFRS performance measures.

QinetiQ Group plc Monitor

QinetiQ Group plc Annual Report 2017
CR Monitor Issue: 
2018/0110
Company covered: 
QinetiQ Group plc
Period End: 
31 March, 2017
Report issued on 23 January 2018 covered the following practice issues:
Change
Recognition of additional intangible assets following business acquisitions.
Change
Additional pension disclosures linked to IFRIC 14 introduced.
Change
Auditors report presentation enhanced by the inclusion of new information.
New
Annual report section added discussing alternative performance measures.

Ultra Electronics Holdings plc Monitor

Ultra Electronics Holdings plc Annual Report 2016
CR Monitor Issue: 
2017/1007
Company covered: 
Ultra Electronics Holdings plc
Period End: 
31 December, 2016
Report issued on 17 October 2017 covered the following practice issues:
Change
Business disposal loss highlighted in a separate line on the face of the income statement.
Change
Cash inflow on partial disposal of a subsidiary reflected as a financing cash flow.
Change
Recognition of defined benefit pension gain on closure of scheme to future accrual.
Change
Qualitative disclosure as to the future impacts of IFRS 15 "Revenues from contracts with customers".
Change
Presentation of audit report enhanced by inclusion of a summary of the audit approach and diagrams in respect of materiality and audit scope.
Change
Clear presentation of changes in long-term incentive plan terms.

QinetiQ Group plc Monitor

QinetiQ Group plc Annual Report 2016
CR Monitor Issue: 
2017/0209
Company covered: 
QinetiQ Group plc
Period End: 
31 March, 2016
Report issued on 20 February 2017 covered the following practice issues:
Pronouncements
Explanation of transitional methods in respect of new revenue standard.
Change
Change in policy in respect of research and development tax credit.
Change
Auditors identify other payables, provisions and contingent liabilities as an area of risk of material misstatement.
Change
‘Business transformation’ identified as a principal risk.

BAE Systems plc Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2016/0307
Period End: 
30 June 2015
Listing Status: 
FTSE 100
ICB Industry Classification: 
2717 Defense
Auditor: 
KPMG
Change
Principal actuarial assumptions used for retirement benefit obligations disclosed.
New
Introduction of note on business disposal during the period.

QinetiQ Group plc Monitor

QinetiQ Group plc  Annual Report 2014
CR Monitor Issue: 
2014/1007
Company covered: 
QinetiQ Group plc
Period End: 
31 March 2014
Report issued on 14 October 2014 covered the following practice issues:
Change
Decision to sell business leads to change in valuation method and impairment, but not to classification as held for sale.
Change
Impact of use of UK gilts based discount rate on triennial funding valuation indicated, without quantification.
Pronouncements
Strategic report replaces business review in management commentary.

Chemring Group plc Monitor

Chemring Group plc Annual Report 2013
CR Monitor Issue: 
2014/0516
Company covered: 
Chemring Group plc
Period End: 
31 October 2013
Report issued on 27 May 2014 covered the following practice issues:
Change
Changes in operating segments reflect revised operating and reporting structure.
Change
Conditional sale of business disclosed as post balance sheet event.
Restatement
Performance share plan remuneration included in directors' emoluments.
Pronouncements
Auditors' report includes commentary on risks of material misstatement, materiality and audit scope.

EADS NV Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2014/0307
Period End: 
30 June 2013
Auditor: 
KPMG
Pronouncements
New pension rules reduce comparative profit.
Pronouncements
Additional disclosures on fair value measurements.
Pronouncements
Presentation of other comprehensive income modified.