4500 Health Care

Merck KGaA Monitor

Merck KGaA Annual Report 2017
CR Monitor Issue: 
2018/0415
Company covered: 
Merck KGaA
Period End: 
31 December, 2017
Report issued on 16 April 2018 covered the following practice issues:
Restatement
Finalisation of prior year provisional business combination amounts.
Pronouncements
Disclosure of the future impacts of new standards yet to be adopted including IFRS 9 "Financial instruments" and IFRS 15 "Revenue from contracts with customers".
Change
Audit report enhanced by inclusion of key audit matters.
Change
Segment disclosures extended.

Novozymes A/S Monitor

Novozymes A/S Annual Report 2017
CR Monitor Issue: 
2018/0318
Company covered: 
Novozymes A/S
Period End: 
31 December, 2017
Report issued on 27 March 2018 covered the following practice issues:
Pronouncements
Extended disclosure made in respect of new standards issued but not yet adopted namely IFRS 9, IFRS 15 and IFRS 16.
Change
Expansion of risk management disclosures.

Mediclinic plc Monitor

Mediclinic plc Annual Report 2017
CR Monitor Issue: 
2018/0310
Company covered: 
Mediclinic plc
Period End: 
31 March, 2017
Report issued on 20 March 2018 covered the following practice issues:
Restatement
Additional goodwill recognised following finalisation of business combination fair values.
Change
Assets and liabilities held for sale disclosed in separate lines on the face of the statement of financial position.
Change
Enhanced disclosure of financial instruments including fair value information.
Change
Disclosure of cash settled share based payment plan.
Change
Auditors' identify new area of audit focus in respect of "risk of fraud in revenue recognition".
Pronouncements
Additional disclosure on early adoption of amendment to IAS 7 "Statement of cash flows"

Novo Nordisk A/S Monitor

Novo Nordisk A/S Annual Report Year
CR Monitor Issue: 
2018/0307
Company covered: 
Novo Nordisk A/S
Period End: 
31 December, 2017
Report issued on 13 March 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new accounting standards issued but not yet effective including IFRS 9, IFRS 15 and IFRS 16.
Change
Structure of geographic segment information altered.
Change
Additional disclosure in respect of research and development milestone payments
New
Disclosure of social accounting policies extended.

Genus plc Monitor

Genus plc Annual Report 2017
CR Monitor Issue: 
2018/0202
Company covered: 
Genus plc
Period End: 
30 June, 2017
Report issued on 6 February 2018 covered the following practice issues:
Change
Discussion of alternative performance measures added to the financial statements.
Restatement
Change in segment reporting to reflect management structure.
Change
Financial instrument disclosures expanded to include table illustrating the ageing of trade receivables that are past due but not impaired.
Change
Identification of new risk factor in respect of "hiring and retaining talented people".
Change
Identification of new key audit matter related to "Orphan pension scheme liabilities related to the Milk Pension Fund".
Change
Presentation of audit report enhanced by inclusion of diagrams.

BTG plc Monitor

BTG plc Annual Report 2017
CR Monitor Issue: 
2018/0104
Company covered: 
BTG plc
Period End: 
31 March, 2017
Report issued on 9 January 2018 covered the following practice issues:
New
Book values, fair value adjustments and fair values disclosed in a tabular format in respect of business acquired.
Pronouncements
Section discussing Alternative Performance Measures introduced to the annual report.
Change
Change in income statement format results in less dis-aggregation.
Change
Enhanced analysis of deferred tax assets.
Change
Change in method for calculating impairment test recoverable amount.
Change
Change in balance sheet format leads to less dis-aggregation.

GlaxoSmithKline plc Monitor

GlaxoSmithKline plc Annual Report 2016
CR Monitor Issue: 
2017/0811
Company covered: 
GlaxoSmithKline plc
Period End: 
31 December, 2016
Report issued on 22 August 2017 covered the following practice issues:
Restatement
Change in composition of reporting segments linked to restructuring of the business.
Change
Identification of new areas of audit focus in relation to "Acquisition-related liabilities" and "Finance transformation".
Pronouncements
Disclosure of proposed changes in non-audit services policy in line with Financial Reporting Council’s (FRC’s) revised Ethical Standards and new EU Audit Regulation.
Pronouncements
IFRIC interpretation leads to change in presentation in respect of cash pooling arrangements.
Restatement
Analysis of defined benefit scheme assets and obligations restated to exclude defined contribution plan amounts.

Novozymes A/S Monitor

Novozymes A/S Annual Report 2016
CR Monitor Issue: 
2017/0709
Company covered: 
Novozymes A/S
Period End: 
31 December, 2016
Report issued on 18 July 2017 covered the following practice issues:
Pronouncements
Introduction of new section "key audit matters" in auditors' report as a result of change in audit standards.
Change
Allocation of goodwill to cash generating units for impairment test purposes changed.
Change
Breakdown of key management remuneration includes "severance costs"
Change
New principal risk factor added in respect of "Delay of BioAg commercialisation"
Pronouncements
Extended discussion on the impacts of new standards including IFRS 9 and IFRS 16.
Change
Goodwill on acquisition of business attributed to synergy benefits.

Smith & Nephew plc Monitor

Smith & Nephew plc Annual Report 2017
CR Monitor Issue: 
2017/0509
Company covered: 
Smith & Nephew plc
Period End: 
31 December, 2016
Report issued on 15 May 2017 covered the following practice issues:
Change
Format of reconciliation showing relationship between tax expense and accounting profit altered.
Change
Proposed changes in remuneration policy including introduction of new performance measure and shareholding requirements.

Genus plc Monitor

Genus plc Annual Report 2016
CR Monitor Issue: 
2017/0408
Company covered: 
Genus plc
Period End: 
30 June, 2016
Report issued on 17 April 2017 covered the following practice issues:
Change
Recognition of gain following change of pension inflation index and a liability linked to minimum funding requirement.
Change
Disclosure of expiry period of deferred tax assets regarding losses available for carry forward.
New
Disclosure of post balance sheet events relating to litigation proceeding and formation of partnership .
Restatement
Cash flow statement disclosure restated to include cash acquired on acquisition in investing activities.
Restatement
Financial instrument disclosures restated to exclude other taxes and social security.
Change
Assets under construction presented as a separate class of property plant and equipment.