8000 Financials

Münchener Rückversicherungs-Gesellschaft AG Monitor

Münchener Rückversicherungs-Gesellschaft AG Annual Report 2017
CR Monitor Issue: 
2018/0724
Company covered: 
Münchener Rückversicherungs-Gesellschaft AG
Period End: 
31 December, 2017
Report issued on 31 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in respect of the impacts of new accounting standards including IFRS 17 "Insurance contracts", IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Change in classification of interest receivable not due.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising form financing activities following adoption of an amendment to IAS 7 "Statement of cash flows".
Pronouncements
Discussion of key audit matters included in the audit report.
Change
Change in segmental reporting structure linked to discontinuation of a business.
Change
Recognition of impairment reversal in respect of deferred acquisition costs.

Julius Baer Group Ltd Monitor

Julius Baer Annual Report 2017
CR Monitor Issue: 
2018/0722
Company covered: 
Julius Baer Group
Period End: 
31 December, 2017
Report issued on 31 July 2017 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new accounting standards issued but not yet effective including IFRS 9 "Financial instruments" and IFRIC 23 "Uncertainty over income tax treatments".
Change
Nature and estimated financial effect disclosed in respect of post balance sheet acquisition of subsidiary minority interest.
Change
Reclassification of issuance and repayment of financial liabilities designated at fair value from cash flow from financing activities to cash flow from operating activities.

Legal & General Group plc Monitor

Legal & General Group plc Annual Report 2017
CR Monitor Issue: 
2018/0717
Company covered: 
Legal & General Group plc
Period End: 
31 December, 2017
Report issued on 24 July 2018 covered the following practice issues:
Change
Detailed disclosure in respect of business classified as discontinued operation.
Pronouncements
Disclosure of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", IFRS 16 "Leases" and IFRS 17 "Insurance contracts".
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows".
Restatement
Amounts reclassified from cash and cash equivalents to financial investments following an assessment of their maturity.
Change
Segmental reporting information restated following reclassification of business as a discontinued operation.
Change
Reverse repurchase agreements reclassified as financial assets.

Hammerson plc Monitor

Hammerson plc Annual Report 2017
CR Monitor Issue: 
2018/0714
Company covered: 
Hammerson plc
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in respect of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Net exchange gain re-classified to profit and loss account.
Restatement
Restatement of cash flow from operating activities to investing activities.
Change
Enhanced disclosure of accounting policies in relation to disposals and derivatives.
Change
Extended disclosure in respect of pensions scheme including asset and sensitivity analysis information.
Change
Disclosure of key inputs employed in the valuation of Level 3 financial instruments. .

Hiscox Ltd Monitor

Hiscox Ltd Annual Report 2017
CR Monitor Issue: 
2018\0613
Company covered: 
Hiscox Ltd
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Disclosure enhanced in relation to impact of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 17 "Insurance contracts".
Restatement
Restatement of cash flow amount from operating activities to investing activities.
Restatement
Restatement in presentation of investment results to exclude investment management fees.
Change
Extended disclosure of principal risk factors.
Change
Profit and cash flow information disclosed in respect of operations disposed.
Change
Disclosure of change in reporting currency.

RSA Insurance Group plc Monitor

RSA Insurance Group Annual Report 2017
CR Monitor Issue: 
2018/0706
Company covered: 
RSA Insurance Group
Period End: 
31 December, 2017
Report issued on 09 July 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report including identification of the recoverability of the parent company's investments in subsidiaries as a key audit matter.
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
Newly issued loan notes included as part of equity.
Restatement
Restatement of analysis of other operating income without explanation.
Change
Additional insurance contracts reconciliation presented showing movements in deferred acquisition costs.

Svenska Handelsbanken AB

Svenska Handelsbanken Annual Report 2017
CR Monitor Issue: 
2018/0705
Company covered: 
Svenska Handelsbanken Annual Report 2017
Period End: 
Svenska Handelsbanken
Report issued on 03 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure added in respect of impact of IFRS 9 "Financial instruments".
Change
Separate disclosure added in respect of insurance business risk.

Beazley plc Monitor

Beazley plc Annual Report 2017
CR Monitor Issue: 
2018/0616
Company covered: 
Beazley 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 new standards: IFRS 17 "Insurance contracts"; IFRS 16 "Leases"; IFRS 9 "Financial instruments"; and IFRS 15 "Revenues from contracts with customers".
New
Recognition of intangible assets following a business combination.
Restatement
Restatement of segmental reporting structure.
Change
High yield bond funds included in analysis of unconsolidated structured entities.
Change
Auditors' report includes separate sections discussing director and auditor responsibilities.
Change
Extended disclosure of principal risks.

Standard Chartered plc Monitor

Standard Chartered Annual Report 2017
CR Monitor Issue: 
2018/0612
Company covered: 
Standard Chartered plc
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Change
Discussion of key audit matters included in auditors' report.
Change
Change in balance sheet format including inclusion of extra line items.
Pronouncements
Detailed disclosure of expected impact of IFRS 9 "Financial instruments" including quantification.
Pronouncements
Introduction of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Restatement
Recognition of prior year adjustment in respect of contingent liabilities and commitments.

Schroders plc Monitor

Schroders plc Annual Report 2017
CR Monitor Issue: 
2018/0610
Company covered: 
Schroders plc
Period End: 
31 December, 2017
Report issued on 12 June 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in relation to new standards not yet effective namely, IFRS 15 "Revenues from contracts with customers", IFRS 9 "Financial instruments", and IFRS 16 "Leases".
Change
Extended disclosure in audit report in respect of directors and auditors responsibilities.
Change
Changes in key performance indicators.
Change
Extended analysis included in financial assets note.
Change
Property plant and equipment analysed by type.