FINANCIAL STATEMENTS DISCLOSURE CHECKLIST TABLE OF CONTENTS PARTICULARS
PAGE NO.
INTRODUCTION AND EXPLANATORY COMMENTS
2
FINANCIAL STATEMENTS DISCLOSURE CHECKLIST
3
PART I - GENERAL
3
1.0 GENERAL DISCLOSURE / INFORMATION 2.0 FUNDAMENTAL ACCOUNTING ASSUMPTIONS 3.0 SIGNIFICANT ACCOUNTING POLICIES
3 4 5
PART II - BALANCE SHEET 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0 16.0 PART III
8
INFORMATION TO BE PRESENTED ON THE FACE OF THE BALANCE SHEET SHARE CAPITAL RESERVES SURPLUS ON REVALUATION OF FIXED ASSETS STATEMENT OF CHANGES IN EQUITY NON-CURRENT LIABILITIES CURRENT LIABILITIES CONTINGENCIES COMMITMENTS EVENTS AFTER THE BALANCE SHEET DATE FIXED ASSETS (OTHER THAN INVESTMENTS) LONG-TERM INVESTMENTS LONG TERM LOANS AND ADVANCES LONG-TERM DEPOSITS AND PREPAYMENTS CURRENT ASSETS INVENTORIES
9 9 11 11 11 12 16 17 18 18 18 26 36 36 36 38
PROFIT AND LOSS ACCOUNT
39
17.0 18.0 19.0 20.0 21.0 22.0
GAINS AND LOSSES RELATED PARTY TRANSACTION INCOME TAX SEGMENT REPORTING EXTRAORDINARY ITEMS EARNINGS PER SHARE
40 41 41 43 47 47
PART IV
CASH FLOW STATEMENT
49
PART V
IN NT TERI M FI N NA ANCI A AL L ST STATEM EN ENTS (I (I FS FS)
51
PART PART VI VI
NONNON-CU CURR RREN ENT T ASSE ASSETS TS HEL HELD D FOR FOR SALE SALE AND AND DI DISC SCON ONTI TINU NUED ED OPE OPERA RATI TION ONS S
54
PART VII
SHARE-BASED PAYM EN ENT
56
PART VI VIII
AGRICULTURE
58
PART PART IX
BA BANK NKS S AN AND D SIMIL SIMILAR AR FINA FINANC NCIA IAL L INST INSTIT ITUT UTIO IONS NS
60
PART X
CONSTRUCTION CONTRACTORS
60
PART XI
EXTRACTIVE INDUSTRIES
61
PAR PART XII XII
LEAS EASE DISC ISCLOSU LOSUR RES BY LESSO ESSOR RS
62
PART PART XIII XIII
REPO REPORT RTIN ING GB BY Y RET RETIR IREM EMEN ENT T BEN BENEF EFIT IT PLA PLANS NS
63
PART XI XI V
BUSI N NE ESS CO COM BI BI N NA ATI ON ONS
65
Acquisitions Business com binations after balance sheet date Business combinations – adjustments Acquisitions: classification of financial instrum ents
65 66 66 67
INSURANCE CO CONTRACTS
68
PART XV XV
Page 1 of 69
INTRODUCTION AND EXPLANATORY COMMENTS 1
This This chec checkli klist st seek seeks s to provid provide e guida guidanc nce e to the the repo report rting ing compa companie nies s and and their their audit auditor ors s with with rega regard rd to the the disclo disclosu sure res s to be made made in the the finan financia ciall stat stateme ement nts s prep prepar ared ed in acco accord rdan ance ce with with the the appr approve oved d acco accoun untin ting g stan standa dard rds s as defin defined ed in the Institute‟s circ circul ular ar No. No. 07/2 07/200 007 7 date dated d Novem Novembe berr 02, 02, 2007 2007 and and the the requ requir irem emen ents ts of the the Comp Compan anie ies s Ordi Ordina nanc nce, e, 1984.
2
The The chec checkl klis istt is mere merely ly a tech techni nica call prac practi tice ce aid aid and and in no way way repr repres esen ents ts the the auth author orit itat ative ive pron pronou ounc ncem emen ents ts of the the Inst Institu itute te.. It does does not not aim at inter interpr pret eting ing the the stat statut utor ory y disclo disclosu sure re requ require iremen ments ts set set out out in the the Four Fourth th Sche Schedu dule. le. IFRSs IFRSs/ / IASs, or TRs laid down in various professional pronouncements.
3
This This chec checkl klis istt seeks eeks to repr repres esen entt mini minimu mum m requ requir irem eme ents nts and and does does not not purp purpor ortt to be all incl inclus usiv ive e and would ould need need review review in the the light light of chan change ges s in stat statut utor ory y requ require iremen ments ts and and acco accoun untin ting g stan standa dard rds s from from time time to time. time. User Users s may need need to expand or modify the checklist when further accounting standards are issued or made applicable subsequently.
4
User Users s of this this chec checkli klist st are are advis advised ed to refer refer direc directly tly to appli applica cable ble stat statut utor ory y provis provision ions s and and acco accoun untin ting g stan standa dard rds s when when appropriate. In determining the applicability of any standards, its effective date should also be considered.
5
Use Use of the the chec checkl klis istt requ requir ires es the the exer exerci cise se of indi individ vidua uall prof profes ess siona ionall judg judgme ment nt and and may may requ requir ire e some ome modi modific ficat atio ion n based on the circumstances of individual reporting companies.
6
The The chec checkl klis istt incl includ udes es acco accoun unti ting ng stan standa dard rds s pert pertai aini ning ng to spec specifi ific c indu indust stry ry appl applic icat atio ions ns,, name namely ly acco accoun unti ting ng for for cont contra ract cts, s, leasi leasing ng,, modar modarab abas as,, bank banks, s, insur insuran ance ce,, retir retireme ement nt plans plans etc. etc. and and the the disclo disclosu sure res s requ require ired d to be made made by bank banks s and and insur insuran ance ce compa companie nies s unde underr the the Bank Banking ing Compa Companie nies s Ordin Ordinan ance ce,, 1962 1962 and and the the Insu Insura ranc nce e Ordin Ordinan ance ce,, 2000 2000 respectively.
7
Res Respond pond to each each item item of the the chec checkl klis istt with ith a tick tick (P) (P) in the the appr approp opri riat ate e colu column mn : Yes Yes: indi indica cati ting ng dis disclos closur ures es;; No: No: indicating disclosures not made and N/A: showing items not present or relevant.
8
Items Items marke marked d “No” shoul hould d be accom ccompa pan nied ied by an exp explan lanator atory y memo memora rand ndum um to docu docume ment nt in what hat mann manner er and and to what hat exte extent nt disc disclo losu sure re falls falls short hort of the the stat statut utor ory y requ requir irem emen entt and and acco accoun unti ting ng stand tandar ards ds . The The expl explan anat atio ion n shou should ld include either the amount or an appropriate percentage relationship.
9
Each Each disclo disclosu sure re requ require iremen mentt liste listed d in the the chec checkli klist st,, wher whereve everr appli applica cable ble,, is deno denote ted d by releva relevant nt claus clause e or refer referen ence ce of the the IAS, IAS, or Sche Schedu dule le,, “Sch. I, II, or III” f ol ol lo lowed by a paragraph num be ber ref er ers to Part I, II or III of the F o ou urth Sche Schedu dule le,, as appl applic icab able le.. Circ Circul ular ar refe refere renc nce e indi indica cate te impo import rtan antt circ circul ular ars s on dis disclos closur ure e requ requir irem emen ents ts issu issued ed by the the Securities and Exchange Commission of Pakistan from time to time.
10
“Changes made by IAS 1 (revised)
IAS 1 (rev is ised) i nt ntroduces a num be ber of changes and am en ends a num be ber of ref er erences i n other IFRSs and thei r interpretations. Some of the changes introduced in IAS 1 (revised) are as follows: a) „Income Statement‟ is amended to „Statement of Comprehensive Comprehensive Income‟. b) „Balance Sheet‟ Sheet‟ is amended to „Statement of Financial Position‟. c) „Cash Flow Statement‟ is amended to „Statement of Cash Flows‟. d) „Balance Sheet Date‟ is amended to „End of the Reporting Period‟. e) „Subsequent Balance Sheet Date‟ is amended to „End of the Subsequent Reporting Period‟. f) „Equity Holders‟ is amended to „Owners‟. g) Ref er erences to the current v e errsi on on of IAS 7, „Cash Flow Statements‟ are amended to IAS 7, „Statement of Cas Cash Flows‟. h) Refe Refere renc nces es to the the curr curren entt vers versio ion n of IAS IAS 10, 10, „Events After After the the Balan Balance ce Shee Sheett Date‟ are are amen amende ded d to „IAS 10, 10, Event Events s After the Reporting Reporting Period‟. We have have not not used used the the term termin inol olo ogie gies used used by the the IAS IAS (rev (revis ised ed)) ins instead tead term termin inol olog ogie ies s of the the 4th 4th Sche Schedu dule le to the the Companies Ordinance 1984 are being used.”
Page 2 of 69
FINANCIAL STATEMENTS DISCLOSURE CHECKLIST NAME NA ME OF THE COMPANY COMPANY _______________________ __________ ___________________ ______ FINANCIAL STATEMENTS FOR THE YEAR ______________________________________ NAME NA ME OF THE AUDITOR AUDITOR __________________________ _____________ _________________ ____ DISCLOSURE MADE YES PART I- GENERAL
1.0 1.0
GENE GENERA RAL L DI DISC SCLO LOSU SURE RE / IN INFO FORM RMAT ATIO ION N
1.1 1.1
Is the the fol follo lowi wing ng inf infor orma mati tion on dis discl clos ose ed?
a)
the domicile and legal form of the Company, and its country of incorporation
b)
a description of the nature of the Company's operations and its principal activities;
c)
the name of the parent Company and the ultimate parent Company of the group;
d)
the addre address ss of of the the regis register tered ed office office (or princip principal al place place of busin busines ess, s, if differe different nt from the registered office)
1.2 1.2
IAS 1.138
Do the the fina financ ncia iall sta state teme ment nts s incl includ ude: e:--
a)
balance sheet;
b)
Profit and loss account
c)
a statement showing either:
i) ii)
all changes in equity; or changes in equity other than those arising from capital transactions with equity holders acting in their capacity as equity holders
1.3 1.3
1.4
d)
cash flow statement; and
e)
notes, accounting policies and other explanatory information
IAS 1.10
Is each each comp compon one ent of the the fina financ ncia iall sta state teme ment nts s cle clear arly ly ide identif ntifie ied d in in the the same same publ publis ishe hed d doc docum ume ent? nt?
IAS IAS 1.4 1.49 9
Is the following following information information prominently prominently displayed displayed and repeated repeated in each each component component of the the financial financial statements which is necessary for a proper understanding of the i nformation presented:a)
the name of the Company or other means of identification and any change in the informati on from the preceding balance sheet date.
b)
whethe whetherr th the e finan financial cial statem statemen ents ts cove coverr th the e indivi individua duall Compan Company y or a group group of Compa Companie nies. s.
c)
the balan balance ce she sheet et date date or the the period period covere covered d by the the financ financial ial state statemen ments ts or note notes, s, which whichev ever er is appropriate to the related component of the fi nancial statements.
1.5
d)
the pr pr e es sentati on on cu cur re rency; an and
e)
the level level of roundin rounding g used used in the prese presenta ntatio tion n of figure figures s in the financi financial al statem statemen ents ts
Does Does the the state statement ment of complianc compliance e given given in the notes notes to the financial financial stateme statements nts comply comply with with the the approved accounting standards? If not, has thi s fact been disclosed?
1.6
Has the m an anagem en ent in in the extrem el el y rare ci rc rcum s sttances concl ud uded that com pl pl ia iance wi th th a
IAS 1.51 1.51
(ICAP Circular 07/2007)
IAS 1. 19 19
requirement in approved accounting standards is so misleading that it would confli ct with the objective of financial statements set out i n the Framework?
1.7
If answe answerr to 1.6 above is "Yes" "Yes" then the management management has departure departure from the the requir requiremen ementt in the following manner, if the relevant regulatory framework requires, or otherwise does not prohibit, such a departure.
Have the following disclosures been m ade in the financial statements:-
a)
IAS 1.20
that manage management ment has conclud concluded ed that that the the financial financial statements statements fairly prese present nt the the Company‟s financial position, financial performance and cash flows;
b)
that it has complied complied in all material material respects respects with an an applicable applicable approved approved accoun accounting ting standard except that it has departed from a standard in order to achieve a fair presentation;
c)
the approve approved d accounting accounting standar standard d from which which the the Company Company has has departe departed, d, the nature of departure including the treatment that the standard would require, the reason why that treatment would be misleading i n the circumstances and the treatment adopted; and
d)
for each each period period present presented, ed, the the financial financial effec effectt of the departure departure on each each item item in the financial statements that would have been reported reported in com plying with the requirement.
1.8
When Company has departed from a requirement of a Standard or an Interpretation in a prior period, and the departure affects the amounts recognised in the financial statements for the current
1.9
period, has the Company disclosed it as per 20 (c ) & (d)?
IAS 1.21
In the extrem el el y rare ci rc rcum s stt an ances i n whi ch ch m an anagem en ent concl ud udes that com pl pl ia iance wi th th a requ requir ire ement ment in a Stan Standa dard rd or an inte interp rpre reta tati tion on coul could d be so misle mislead adin ing g that that it woul would d conf confli lict ct with with the the obje object ctiv ive e of fina financ ncia iall stat state ement ments s set set out out in the the Fram Frame ework work,, but but the the rele releva vant nt regu regula lato tory ry fram frame ework work prohi rohibi bits ts departu arture re from from the the req require uireme ment nt,, has has the the Comp Compa any, ny, to the the max maximu imum exten tent poss possib ible le,, reduced the perceived perceived misleading aspects of com pliance by disclosing:
IAS 1.23
Page 3 of 69
NO
N/A
DISCLOSURE MADE YES a)
the title of the Standard or Interpretation from which the Company has departed;
b)
the nature of the departure; the reason why management has concluded that complying with that requirement is so misleading in the circumstances that it conflicts with the objective of financial statements set out in the Framework; and for each period presented, the adjustments to each item in the financial statements that management has concluded would be necessary to achieve a fair presentation.
c)
d)
1.10 1.10
Have Have the financia financiall stateme statements nts bee been n clearly clearly ident identifie ified d and disting distinguish uished ed from from other other i nf nf or orm at at io ion in in th th e a nn nnual re repor t ( ffo or ex exam pl pl e, e, by by pr pr o ov vi di di ng ng an an in index t o th e a nn nnual re repor tt))?
1.11 1.11
IAS 1. 1. 49 49
When, When, in except exceptiona ionall circumsta circumstance nces, s, the Compa Company' ny's s end of report reporting ing period period chang changes es and annua annuall financial statements are presented for a period longer or shorter than a year, does the Company disclose:-
1.12 1.12
a)
the reason for a period other than one year being used; and
b)
the the fact fact that that amou amount nts s pre present sented ed in the the fina financ ncia iall stat state ement ments s are are not not enti entire rely ly comp compar arab able le..
1.15
the date date when when the the financ financial ial state statement ments s were were authori authorise sed d for issue; issue; who authori authorised sed the financia financiall state statemen ments; ts; and if applicable, the fact that the Company‟s owners or others have the power to amend the financial statements after issue.
IAS 10.17
When the presentation currency is different from the functional currency, has the Company disclosed the following information: a) b) c)
1.14
IAS IAS 1.36 1.36
Has Has the the Compa Company ny disclo disclose sed d the the foll follow owing ing inform informat ation ion::
a) b) c)
1.13
IAS 1.36
that fact; the the fun funct ctio iona nall curr curre ency; ncy; and and the reason for using a di fferent presentation currency.
IAS.21.53
When there is a change in the functional currency of either the reporting Company or a significant foreign operation, does the Company disclose the following information: a)
that fact; and
b)
the reason reason for the change change in funct functiona ionall curre currency ncy
W he hen th e Com pa pa ny ny pr e es sents i ts ts f in inanci al al stat em em en ents i n a curr e en nc cy y that i s d ififferent fro m i ts ts
IAS.21.54
I AS AS 21. 55 55
functional currency, has it described the financial statements as complying with IFRS only if they comply with all the requirements of each applicable Standard and each applicable Interpretation of those Standards including the translation method set out in IAS 21.39 and 21.42.
1.16
Have the fol lowing been discl osed by way of notes to the financial statem ents:a)
IAS 1.112
the the inf infor orma mati tion on abou about: t: i) ii)
the the bas basis is of pre prepara parati tion on of the the fina financ ncia iall sta state teme ment nts s the spec specifi ific c accou account nting ing polic policie ies s sel selec ecte ted d and appli applied ed for for sign signifi ifica cant nt transactions and events
b)
the information required required by approved approved Accounting Accounting Standards Standards that that is not prese presented nted elsewhere in the financial statements?
c)
additional information which is not presente presented d on the face of the financial statements statements but but that is necessary for a fair presentation?
1.17 1.17
Has the the Company Company provi provided ded addit additiona ionall disclosu disclosures res when when the the partic particular ular requir requireme ements nts in IFRSs IFRSs and and Interpretations of those Standards are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the Company‟s financial position and
financial perform ance. 1.18 1.18 1.19 1.19
IAS 1.17(c)
Have Have the the notes notes to the financia financiall stateme statements nts bee been n prese presente nted d in a syste systematic matic manne manner? r?
IAS 1.113
Has itit been been ensure ensured d that each each item item on the face face of the the balan balance ce she sheet, et, profi profitt and loss loss acco accoun untt and and cash cash flow flow stat statem eme ent is cros crosss-re refe fere renc nced ed to any any rela relate ted d inf infor orma mati tion on in the the note notes. s.
1.20
IAS IAS 1.11 1.113 3
Has the Com pany:
a)
disclosed comparative information in respect of the previous period for all amounts reported in the current period's financial statements, unless a Standard permits or requires otherwise.
b)
1.21
included comparative information for narrative and descriptive information when it is relevant to an understanding of the current period‟s financial statements.
IAS 1.38
When the presentation or classification of items in the financial statements is amended and comparative amounts are reclassified (unless the reclassification is impracticable), has the Company disclosed the following information:
1.22 1.22
a)
the natur nature e of of the the rec reclas lassif sifica icatio tion; n;
b)
the amoun amountt of each each item item or class class of of items items that that is reclas reclassifi sified; ed; and and
c)
the reas reason on for for the the recla reclass ssifi ifica catio tion. n.
IAS 1.41
When it is imprac impractica ticable ble to reclas reclassify sify comparat comparative ive amounts, amounts, has has the the Compan Company y disclos disclosed ed the the reason not reclassifying the amounts and the nature of the adjustments that would have been made if amounts were reclassified?
2.0 2.0
FUND FUNDAM AMEN ENTA TAL L ACC ACCOU OUNT NTIN ING GA ASS SSUM UMPT PTIO IONS NS
2.1
Going concern
Page 4 of 69
IAS 1.42
NO
N/ A
DISCLOSURE MADE YES a)
Has the the financial financial stateme statements nts been been made made on a going concern concern basis after the management management h as as ma made an as assessm en ent of of th the Com pa pany's ab abi lili ty ty tto o co conti nu nue as a goi ng ng co concern?
IAS 1. 25 25
If answer to (a) above is NO, give the answer to the following questions (b) to (d):
b)
Does the management management intend intend to liquidate the Company or to cease cease trading trading or has no realistic alternative but to do so?
c)
When the the manageme management nt is aware aware,, in making making its asses assessme sment nt of the the Company Company's 's ability ability to continue as a going concern, of material uncertainties related to events or conditions which may cast significant doubt upon the Company's ability to continue as a going concern, have those uncertainties been di sclosed?
d)
IAS 1.25
when the financial financial statements statements are not prepared prepared on a going concern concern basis, has has the following information been disclosed:-
i)
the fact fact that that the financia financiall stateme statements nts have not bee been n prepar prepared ed on on a going concern basis;
ii)
the basis basis on which which the financia financiall stateme statements nts have have been been prepare prepared. d.
iii)
the reason why tth he Com pa pany h ha as not been re regarded to to be be a goi ng ng concern.
IAS 1.25
Accrual Basis of Accounting 2.2
Has the the Compan Company y disclos disclosed ed the the fact fact that that its its financia financiall stateme statements nts,, exce except pt for for cash cash flow informati information, on, have been prepared under the accrual basis of accounting?
IAS 1.27
Consistency of Presentation 2.3
2.4
Does the Com pany retain in the financial statem ents from one period to the next:
a)
the the pre prese sent ntat atio ion n of ite items ms;; and and
b)
the the cla class ssif ific icat atio ion n of of item items. s.
IAS 1.45
Has the the prese presentat ntation ion and and classific classificatio ation n of items items in the the financi financial al stateme statements nts bee been n retaine retained d from last last period to the present one: If NO, is it due to:
a)
a significant significant change change in the nature of the operations operations of of the Company or a review review of its financial statement presentation demonstrates that the change will result in a more appropriate presentation of events or transactions; or
b)
a change change in presen presentati tation on is require required d by an approve approved d Accounti Accounting ng Standar Standard d or an Interpretation.
IAS 1.45
Materiality and Aggregation 2.5 2.5
2.6
Has Has eac each h mat mate erial rial clas class s of of s sim imil ilar ar ite items bee been pre prese sent nte ed se separa parate tely ly in the the fina financ ncia iall sta state teme ment nts? s?
Has the Company Company pres present ented ed sepa separate rately ly items items of a dissimilar dissimilar nature nature or or functio function n unles unless s they they are are im m aterial?
3.0 3.0
3.1 3.1
IAS IAS 1.29 1.29
IAS 1.29
SIGN SIGNIF IFIC ICAN ANT T AC ACCO COUN UNTI TING NG POLI POLICI CIES ES
Has Has the the acco accoun unti ting ng poli policy cy sect sectio ion n of of the the note notes s to to the the fina financ ncia iall sta state teme ment nts s dis discl clos osed ed a des descr crip ipti tion on
Sugg Sugges esti tive ve
of all significant accounting policies of the reporting Company, presented in a clear and concise manner at one place?
3 .2 .2
3.3
Has th e Com pa pa ny ny di sc scl os osed the fol lo lowi ng ng i n i ts ts sum ma mar y of si gn gni fifi ca cant account in ing pol ic ici es es: a)
the measurement basis (or bases) used in preparing the financial statements (e.g. historical cost, current cost, net realisable value, fair value, etc) and;
b)
the other accounting policies used that are relevant to an understanding of the financial statements.
I AS AS 1.1 17 17
Has the Company disclosed, in the summary of significant accounting policies or other notes, the judgments (apart fr om those involvi ng estimations) m ade by management in appl ying the accounting policies that have the most significant effect on the amounts recognised in the financial statements.
3.4
IAS1.122
In decidin deciding g whethe whetherr a particu particular lar accou accountin nting g policy policy should should be be disclos disclosed, ed, manag manageme ement nt consid considers ers whether disclosure would assist users in understanding how transactions, other events and condi tions are refl ected in reported financial perform ance and fi nancial position.
IAS 1.119
Some IFRSs specifically require disclosure of particular accounting policies, including choices made by management between different policies they allow. 3.5
Change in Accounting Policies
3.5.1 Has the Company Company changed changed its accounting policy? policy? Yes or No 3.5.2 If Yes, ensured that the change is only: a)
b)
IAS 8.14
is requir required ed by a Standar Standard d or an Inte Interpre rpretati tation; on; or
resulted resulted in the financial statements statements providing reliable and more more relevant relevant information about the effects of transactions, other events events or conditions on t he Company‟s financial position,
Page 5 of 69
NO
N/ A
DISCLOSURE MADE YES financial performance or cash flows. 3.5.3 Where a change in accounting accounting policy results results from the initial application application of a Standard or an Interpretation, have the transitional provisions, if any, in that Standard or Interpretation been appl ied?
IAS 8.19a
3.5.4 Has the change in accounting policy been been applied retrospectively, retrospectively, where a Company changes an accounting policy upon initial application of a Standard or an Interpretation that does not include specific transitional provisions applying to that change, or changes an accounting policy voluntarily?
IAS 8.19b
3.5.5 When retrospective retrospective application application is required required (as noted in 3.7.3 below) has the Company adjusted adjusted the opening balance of each affected component of equity for the earliest prior period presented and the other comparative amounts disclosed for each prior period presented as if the new accounting poli cy had always been appl ied?
IAS 8.22
3.5.6 When retrospective retrospective application application is required required (as noted in 3.5.3 and 3.5.4 above), has the Company appli applied ed the the acc accoun ountin ting g polic policy y cha change nges s retro retrospe spect ctive ively ly exc excep eptt it is impr imprac actic tical al to to dete determin rmine e eith either er:: a)
peri period od spe specifi cific c eff effec ects ts;; or
b)
the cumul cumulati ative ve effe effect ct of of the the c cha hange nge..
IAS IAS 8.23 8.23
3.5.7 When it is impracticable to determine determine the period period specific effects effects of changing an accounting accounting policy, has the Company applied the new accounting policy to the carrying amount of assets and liabilities as at the beginning of the earliest period for which retrospective application is practicable?
IAS 8.24
3.5.8 3.5.8 When When it is imprac impractic ticab able le to to dete determin rmine e the the cumula cumulativ tive e eff effec ectt at the the beg beginn inning ing of of the the curre current nt per period iod of of
IAS IAS 8.25 8.25
applying a new accounting policy, has the Company applied the new accounting policy prospectively, by adjusting the comparative information, from the earliest date practicable? 3.5.9 3.5.9 When When init initial ial appli applicat cation ion of a Stan Standa dard rd or Inter Interpre pretat tation ion has has an an eff effec ectt on on the the curre current nt perio period d or or any any
IAS IAS 8.28 8.28
prior period presented, except that it is impracticable to determine the amount of the adjustment, or might have an effect on future periods, has the Company disclosed the following information: a)
the title of the Standar Standard d or or Inte Interpre rpretat tation; ion;
b)
when when applicab applicable, le, that that the chang change e in account accounting ing policy policy is made in accor accordanc dance e with its its transitional provisions;
c)
the natur nature e of the the c cha hange nge in acco account unting ing poli policy cy;;
d)
when when applica applicable ble,, a descr descriptio iption n of the the transit transitiona ionall provision provisions; s;
e)
when applicable, applicable, the transitional transitional provisions provisions that that might have an effect effect on future future periods periods;;
f)
for the current current period period and each prior period period presente presented, d, to the exte extent nt practicable, practicable, the amount of the adjustment for each financial statement line item affected and the basic and diluted earnings per share (where IAS 33 applies to the Company);
g)
the amount amount of the the adjustment adjustment relating relating to periods periods before before those those presente presented, d, to the the extent extent practicable; and
h)
if retrospec retrospective tive application is impractical impractical for a particular particular prior prior period, period, or for periods periods before before those presented, the circumstances that led to the existence of that condition and a description of how and from when the change in accounting policy has been applied.
3.5. 3.5.10 10 When When a v vol olun unta tary ry chan change ge in acco accoun unti ting ng poli policy cy has has an effe ffect on the the curr curre ent peri period od or any any prio priorr
IAS IAS 8.29 8.29
period, except that it is impracticable to determine the amount of the adjustment, or might have an effect on future periods, has the Company disclosed the following information: a)
the nature nature of the the change change in acco accounti unting ng policy policy;;
b)
the reason reasons s why applying the new accounting accounting policy provides provides reliable reliable and and more relevant relevant information;
c)
for the current current period period and each each prior prior period presented, presented, to the extent extent practicable practicable,, the amount of the adjustment for each financial statement line item affected and the basic and diluted earnings per share (where IAS 33 applies to the Company);
d)
the amount amount of the the adjustment adjustment relating relating to periods periods before before those those presente presented, d, to the the extent extent practicable; and
e)
if retrospec retrospective tive application is impractical impractical for a particular particular prior prior period, period, or for periods periods before before those presented, the circumstances that led to the existence of that condition and a description of how and from when the change in accounting policy has been applied.
3.5.11 When the Company has not applied a new Standard Standard or Interpretation Interpretation that has been issued issued but is not yet effective, has the Com pany disclosed:
IAS 8.30
a)
that fact
b)
known or reasonably reasonably estimable information relevant relevant to to assess assess the possible impact that that application of the new Standard or interpretation will have on the entity's financial statements in the period of initial application.
3.5.12 Has the Company Company also disclosed disclosed in relation to 3.5.11 above: above: a)
the titl e of the new Standard or Interpretation
b)
the natur nature e of the the impendin impending g change change or chang changes es in accou accountin nting g policy; policy;
c)
the date date by which which applica application tion of the the Standar Standard d or Interpre Interpretat tation ion is require required; d;
d)
the date date as as at which which it plans plans to apply apply the the Standa Standard rd or Inter Interpre pretati tation on ; and
e)
IAS 8.31
either: – a discussion of the impact of the effect effect of the change(s) change(s) on its financial
statements; or – if such an impact is not known or reasonably reasonably estimable, a statement statement to
that effect. 3.6
ERRORS
3.6.1 Has the material prior period errors been corrected retrospectively (except to the extent it is impractica ble to determine determine either the period-specific period-specific effects or the cumulative effect effect of the error) error) in the first set of financial statements authorised for issue after their discovery:
IAS 8.42 IAS 8.43
a)
by restating restating the comparative comparative amounts for the prior period(s) period(s) prese presented nted in which which the error Page 6 of 69
NO
N/ A
DISCLOSURE MADE YES occurred; or b)
when the error error occurred occurred before the earliest earliest prior period period presente presented, d, by restating restating the the ope opening ning balances of assets, liabilities and retained equity for that period
3.6.2 When it i s impracti cable to determine the period period – specific effects of an error on comparative information, has the Company restated the opening balances of assets, liabilities and equity for the earliest period for which retrospective restatem ent is practi cable
IAS 8.44
3.6.3 When it is impractical to determine determine the cumulative effect, effect, at the beginning beginning of the current period, period, has the Company restated the comparative information to correct the error prospectively from the earliest date practicable?
IAS 8.45
3.6.4 Has the Company Company disclosed disclosed the following following information: information:
a)
the nature of the pri or period error;
b)
the amount amount of the the correction correction for each each prior period presented presented (to the extent extent practicable practicable)) for
IAS 8.49
each financial statement line item affected; c)
the amount amount of the the correction correction for each each prior period presented presented (to the extent extent practicable practicable)) for basic and diluted earnings per share (where IAS 33 applies to the Company);
d) e)
the amount amount of the correction correction at the beginning beginning of the earliest earliest period period presente presented d where retrospectiv retrospective e restate restatement ment is impracticable, impracticable, the circumstances circumstances that led led to the existence of that condition and a description of how and from when the error has been corrected.
3.7
CHANGES IN ACCOUNTING ESTIMATES
3.7.1 3.7.1 Has Has the the effe effect ct of a cha change nge in an an acc accou ounti nting ng estim estimate ate,, othe otherr than than a cha chang nge e to to whic which h 3.7. 3.7.2 2 app applie lies, s,
IAS IAS 8.36 8.36
been recognised prospectively by including it in profit or loss in:
a)
the peri period od of the the change change,, if the chan change ge affe affects cts that that period period only; only; or or
b)
the period period of the the change change and and future future period periods, s, if the chang change e affects affects both. both.
3.7.2 To the extent extent that a change in an accounting estimate gives rise to changes in assets assets and liabilities, or relates to an item of equity, has it been recognised by adjusting the carrying amount of the related asset, li ability or equity i tem in the period of the change?
IAS 8.37
3.7.3 Has the following information information been disclosed disclosed for a change in accounting accounting estimates estimates that has an effect in the current period or i s expected to have an effect in future periods:
a)
the the nat natur ure e of of the the c cha hang nge e; and and
b)
the the amou amount nt of the the chan change ge..
IAS 8.39
3.7.4 If the amount of the effect in future periods periods is not disclosed because because estimating estimating it i s impracticable, impracticable, has the Com pany disclosed that fact?
IAS 8.40
Page 7 of 69
NO
N/ A
DISCLOSURE MADE YES PART II - BALANCE SHEET
1.0
1.1
INFORMA INFORMATIO TION N TO TO B BE E PRES PRESENT ENTED ED ON THE FACE FACE OF OF THE THE BALANC BALANCE E SHEE SHEET T
As a minimum, minimum, has has the face of the the balanc balance e shee sheett include included d line items items which which pres present ent the the follow following ing am ounts:
IAS 1.54
a)
prop proper erty ty,, plant plant and and equ equip ipme ment nt;;
b)
inve invest stme ment nt pro prope pert rty; y;
c)
inta intang ngib ible le asse assets ts;;
d)
financia financiall assets assets (exclud (excluding ing amount amounts s shown shown under under (e), (e), (h) (h) and (i));
e)
investme investments nts account accounted ed for using using the the equit equity y metho method; d;
f)
b io iol og ogi ca cal as assets;
g)
i nv nventori es es;
h)
trad trade e and and othe otherr rece receiv ivab able les; s;
i)
cash cash and and cash cash equi equiva vale lent nts; s;
j)
the total of assets classifi ed as held for sale and assets included in di sposal groups classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations;
k) l)
1.2
trad trade e and and oth othe er pay payab able les; s; provisi ons;
m)
financia financiall liabilitie liabilities s (exclud (excluding ing amount amounts s shown shown under under (k) and (l)); (l));
n)
liabilitie liabilities s and assets assets for for current current tax, tax, as define defined d in IAS 12 Income Income Taxe Taxes; s;
o)
deferr deferred ed tax tax liabilitie liabilities s and defer deferred red tax tax assets assets,, as define defined d in IAS 12;
p)
liabilities included included in disposal disposal groups groups classified classified as held for sale sale in accordance accordance with IFRS IFRS 5;
q)
non-cont non-controlli rolling ng intere interests sts,, presen presented ted within within equity equity;; and
r)
issued issued c capit apital al and reserv reserves es attri attributa butable ble to to owners owners of the the parent parent..
If the the Compan Company y does does not pres present ent separat separately ely curre current nt and and non-cur non-curren rentt assets assets,, and curre current nt and and non-current liabilities on the face of its balance sheet, does it present all assets and liabilities broadly in order of liquidity.
1.3
IAS 1.60
If the Company Company prese presents nts sepa separate rately ly curren currentt and non-c non-curre urrent nt assets assets,, and curre current nt and nonnon-curr current ent liabilities on the face of its balance sheet, has the Company classified:
a)
an asset as current when it:
IAS 1.66
– is expected expected to be realised in, or is intended intended for sale or consumption in, the Company‟s normal operating cycle; – is held primarily for the purpose of being being traded; – is expected expected to be realised within twelve twelve months after the balance balance sheet sheet date; or or – is cash or a cash equivalent equivalent asset unless unless it is restricted from being
exchanged or used to settle a liability for at least twelve months after the balance sheet date.
Have all other assets been classified as non-current, including intangible assets?
IAS 1.67
The term „non-current‟ includes tangible, intangible and financial assets of a
long-term nature. This checklist does not prohibit the use of alternative descriptions as long as the meaning is clear.
Current as assets al also in include as assets he held pr prim ar ari ly ly fo for th the purpose of be being tr traded
IAS 1. 1.68
(financial assets within this category are classified as held for trading in accordance with IAS 39 Financial Instruments: Recognition and Measurement) and the current portion of non-current financial assets.
b)
its financial financial liabilities as current, current, when when they they are due to be settled settled within twelve twelve months after after the balance sheet date, even if: – the original term was for a period period longer than twelve twelve months ;
c)
IAS 1.70
its long-term long-term liability liability as current, current, where where a Company breaches breaches an undertakin undertaking g under under a long long term loan agreement on or before the balance sheet date with the effect that the liability becom es payable on dem and, even if:
IAS 1.74
– the lender lender has agreed, agreed, after the balance balance sheet sheet date and and before the authorisation authorisation
of the financial statements for issue, not to demand payment as a consequence of the breach.
Howe Howeve ver, r, the the liab liabil ilit ity y is is cla class ssif ifie ied d as as non non-c -cur urre rent nt if the the lend lende er agr agre eed by by tthe he bala balanc nce e
IAS IAS 1.75 1.75
sheet date to provide a period of grace ending at least twelve months after the balance sheet date, within which the entity can rectify the breach and during which the lender cannot demand immediate repayment.
1.4
When the the Compan Company y makes makes a distinc distinction tion betw betwee een n curren currentt and non-c non-curre urrent nt asse assets ts and and liabilitie liabilities s in its financial statements, has it presented deferred tax assets and deferred tax liabilities as non-current item s.
1.5
IAS 1.56
In respe respect ct of loans loans classif classified ied as curre current nt liabilitie liabilities, s, if the the followin following g events events occur occur betwe between en the the balance balance sheet date and the date the financial statements are authorised for issue, those events qualify for Page 8 of 69
NO
N/ A
DISCLOSURE MADE YES disclosure as non-adjusting events in accordance with IAS 10 Events after the Balance Sheet Date:
a)
IAS 1.76
refin refinan ancin cing g on a longlong-te term rm basis basis;;
b)
rectific rectificatio ation n of a breach breach of of a long-t long-term erm loan loan agree agreement ment;; and and
c)
the rece receipt ipt from from the lende lenderr of a period period of grace grace to to rectify rectify a brea breach ch of a long-term loan agreement ending at least twelve months after the balance sheet date.
1.6
Have Have additio additional nal line line items, items, headin headings gs and and subtot subtotals als been been pres present ented ed on on the face face of the the balanc balance e sheet when a standard requires it, or when such presentation is necessary to present fairly the
1.7
Company‟s financial position?
IAS 1.55
Has a liabil ity been classified as current when the entity:
IAS 1.69
a)
expec expects ts to sett settle le the the liabilit liability y in its normal normal ope operati rating ng cycle cycle? ?
b)
holds holds the the liabili liability ty primar primarily ily for for the the purpose purpose of tradi trading; ng;
c)
the liability liability is due to be settled settled within within twelve twelve months months after after the the reportin reporting g period; period; or
d)
does does not have have an unco uncondit nditiona ionall right to defe deferr settle settlement ment of of the liabili liability ty for at least twelve months after the reporting period
Term s of a liabi lity that could, at the option of the counterparty, result in
** * *
its settlement by the issue of equity instruments do not affect its classification.
Have all other liabilities been classified as non-current?
1.8 1.8
Has Has tthe he Comp Compan any y cla class ssif ifie ied d inve invest stme ment nts s in ass assoc ocia iate tes sa acc ccou ount nte ed for for usin using g the the equit quity y meth method od as as
IAS IAS 28. 28.38 38
non-current asset?
1.9 1.9
Has Has the the Com Compa pany ny cla class ssif ifie ied d gove govern rnme ment nt gra grant nts s rela relate ted d to ass asset ets s (inc (inclu ludi ding ng non non-m -mon one etary tary gra grant nts s at
IAS IAS 20.2 20.24 4
fair value) either:
1.10 1.10
a)
as defe deferr rre ed inc incom ome e; or or
b)
as a dedu deductio ction n in arriv arriving ing at at the carrying carrying amount amount of the the asse asset. t.
Has the the Company Company disclo disclose sed, d, either either on on the face face of of the balan balance ce shee sheett or in the notes, notes, furthe furtherr sub-classifications of the line items presented, classified in a manner appropriate to the IAS 1.77
Company‟s operations? Each item is sub-classified, when appropriate, by its nature.
1.11 1.11
Has Has tthe he Comp Compan any y dis discl clos ose ed se separa parate tely ly the the majo majorr cla class sse es of of ass asse ets and and lia liabi bili liti tie es cla class ssif ifie ied d as as
IFRS IFRS 5.38 5.38
held held for for sale sale eith either er on on the the face face of the the bala balanc nce e shee sheett or in the the not notes es,, exce except pt if the the disp disposa osall group group is
IFRS IFRS 5.39 5.39
a newly acquired subsidiary that meets the criteria to be classified as held for sale at acquisition.
1.12 1.12
Are asse assets ts and liabilit liabilities ies pres present ented ed separa separatel tely y and not offse offsett (items (items may only be offse offsett when when this is required or perm itted by a Standard or Interpretation).
1.13 1.13
IAS 1.32
Whicheve Whicheverr method method of prese presentat ntation ion is adopte adopted, d, each each asset asset and and liability liability line line item item that combine combines s amounts expected to be recovered or settled within no more than twelve months after the balance sheet date and more than twelve months after the balance sheet date, has the Company disclosed for the am ount expected to be recovered or settled after m ore than twelve m onths.
2 .0
SHARE CAPITAL
2.1
Is the share capital classified under the fol lowing sub-heads, nam ely:
IAS 1.61
Sch IV, 6(i)
2.1.1 Issued, Issued, subscribed subscribed and paid up capital, distinguishing distinguishing in respect respect of each class betwee between:n:-
a)
b)
shares shares allotted allotted for conside considerati ration on paid in cash cash
shares allotted for considera consideration tion other other than than cash, cash, showing showing separat separately ely shares shares issued against property and others (to be specified); and
c) 2.2 2.2
share shares s allo allott tted ed as bonu bonus s sha share res. s.
For For each each class class of share share capita capitall (or (or for each each cate catego gory ry of equit equity y inter interes estt for for an entit entity y witho without ut shar share e capital), has the following been disclosed either on the face of the balance sheet, the statement of changes in equity or in the notes:
a)
the numbe numberr of of s shar hares es autho authoris rised ed? ?
b)
the numbe numberr of shares shares issu issued ed and and fully paid, paid, and and issued issued but but not fully fully paid? paid?
c)
par value value per share, share, or or that that the shares shares have no par par value value;;
d)
reconciliation reconciliation of number of shares shares outstand outstanding ing at the beginning beginning and end of the year?
e)
the rights, rights, prefe preference rences s and restrictions restrictions attaching attaching to each each class class of share capital including including restrictions on the distribution of dividends and the repayment of capital?
Page 9 of 69
IAS IAS 1.79 1.79
NO
N/ A
DISCLOSURE MADE YES f)
shares shares in the the Company Company held held by the Company Company itse itself lf or by subsid subsidiarie iaries s or associa associates tes of of the Company?
g)
shares shares reser reserved ved for for issuance issuance under under option options s and sales sales contracts contracts,, including including the terms and amounts?
2.3
Where Where a Company Company issues issues shares shares at a premium, premium, whethe whetherr in cash cash or otherw otherwise ise,, has the sum equal equal
Co.Ord. Co.Ord.
to the aggregate amount or the value of the premiums on those shares shall be transferred to an
Sec. 83
account, to be called "the share premium account"?
2.4
Has the Company Company disclo disclose sed d any major ordin ordinary ary share share transact transactions ions and pote potentia ntiall ordinar ordinary y share share transactions after the balance sheet date (IAS 33 Earnings per Share requires an entity to disclose a description of such transactions, other than when such transactions involve capitalisation or bonus issues, share splits or reverse share splits all of which are required to be adjusted under IAS 33); as non adjusting events after the balance sheet date.
2.5
2.6
IAS 10.22(f)
Has the Company Company disclo disclose sed d informat information ion that that enabl enables es use users rs of its finan financial cial state statemen ments ts to evalua evaluate te the Company‟s objectives, policies and processes for m anaging capital?
IAS 1.134
To com ply with paragraph 2.5 , has the Com pany disclosed the following:
IAS 1.135
a)
qualitative information about its objective objectives, s, policies policies and proces processes ses for managing managing capital, capital, including (but not limited to):
(i) (ii)
a desc descrip riptio tion n of what what itit mana manage ges s as as capi capita tal; l; when when a Company Company is subje subject ct to ext extern ernally ally impose imposed d capital capital requir requireme ements, nts, the nature of those requirements and how those requirements are incorporated into the management of capital; and
(iii)
b)
how it is meeting meeting its obje objectiv ctives es for managing managing capit capital. al.
summary summary quantita quantitative tive data data about about wh what at it manages manages as capita capital. l. Some entit entities ies regard regard some some financial liabilities (e.g. some forms of subordinated debt) as part of capital. Other entities regard capital as excluding some components of equity (e.g. components arising from cash flow hedges).
c)
d)
any change changes s in (a) and and (b) (b) from from the the previou previous s period period..
whether whether during during the period it complied complied with any exte externally rnally imposed imposed capital capital requireme requirements nts to which it is subject.
e)
when the entity entity has has not complied with such such exter externally nally imposed imposed capital capital requiremen requirements, ts, the consequences of such non-compliance. Are these disclosures based on the information provided internally to the Company's key management personnel?
2.7
When an aggre aggregate gate disclosu disclosure re of capit capital al requir requireme ements nts and how capital capital is manage managed d would would not provide useful information or distorts a financial statement user‟s understanding of a Company‟s
capital resources, has the Company disclosed separate information for each capital requirement to which the Com pany i s subject?
2.8
IAS 1.136
Has the Company Company provi provided ded disclosu disclosure re in accorda accordance nce with IAS 24, ifif the Company Company reac reacquir quires es its its own shares from related parties?
2.9
IAS 32.34
Has the Company Company disclose disclosed d the buy back back of shares shares (purcha (purchase) se) in the balance balance sheet sheet as reduct reduction ion of shar share e capit capital al and and other other neces necessar sary y details details includin including g the the mode mode and purchas purchase e price price provide provided d in the explanatory notes of the accounts?
2.10 2.10
2.11
Co.(Bu Co.(Buy y back back of shar shares) es) Rul es, 1999
Has the the amo amount unt of of transac transaction tion cost costs s accoun accounted ted for for as a dedu deductio ction n from equit equity y in the period period bee been n disclosed separately under IAS 1?
IAS 32.39
Has th th e r e ell at ated am am ou ou nt nt of of in inco me me ta taxes as asso c cii at ated wi wi th th tr tra ns nsacti on on co cost s accoun te ted fo for as as a
I AS AS 32 32. 39 39
deduction from equity been included in the aggregate amount of current and deferred tax credited or charged to equity that is disclosed under IAS 12?
2.12
Members' shares in co-operative entities and similar instruments (IFRIC 2)
The contractual right of the holder of a fi nancial instrument (including m embers‟ shares in
co-op co-oper erat ative ive entit entitie ies) s) to to requ reques estt rede redempt mption ion doe does s not, not, in its itsel elf, f, req requir uire e that that fina financi ncial al inst instrum rumen entt to
IFRI IFRIC C 2.5 2.5
be clas classi sifi fie ed as as a fin finan anci cial al liab liabil ilit ity. y. Rathe ather, r, the the Com Compa pany ny must must cons consid ide er all all of of the the term terms s and and
IFRI IFRIC C 2.8 2.8
conditions of the financial instrument in determining its classification as a financial liability or equity. Those terms and conditions include relevant local laws, r egulations and the Company‟s governing charter charter that can i mpose various types of prohibitions on the redemption of m embers‟
shares.
2.13
When a change in the redemption prohibition of m embers‟ shares leads to a t ransfer between between
financial liabilities and equity, has the Company disclosed separately the amount, timing and reason for the transfer?
Page 10 of 69
IFRIC 2.13
NO
N/ A
DISCLOSURE MADE YES 3 .0
RESERVES
3.1
Are the reserves, di stingui shed between capi tal reserves and revenue reserves.
3.2
Sch IV 6(ii )
Has the the Compan Company y disclos disclosed ed a desc descript ription ion of the the natur nature e and and purpose purpose of each each rese reserve rve within within owne owners' rs' equity?
IAS-1.79(b)
4.0 4.0
SURP SURPLU LUS S ON ON R REV EVAL ALUA UATI TION ON OF FIXE FIXED DA ASS SSET ETS S
4.1
Have fixed assets been revalued?
4.2
Sch. Iv Part 7
Has the Com pany treated and shown surplus on reval uation of fixed assets shown i n the bala balanc nce e-she -shee et of of the the Comp Compan any y aft after er capi capita tall and and rese reserv rve es as as spe speci cifi fied ed in sect sectio ion n 235 235 of the the
Sch IV. 7 CO84 CO84 Sec. Sec. 235 235
Companies Ordinance, 1984 (XLVII of 1984) and SRO 45(I)/2003 dated January 13, 2003? 4.3
If an asset‟s carr carryi ying ng amou amount nt is incr increa ease sed d as a resu result lt of a reva revalu luat atio ion, n, has has the the incr incre ease ase been been cre credite dited d dire direct ctly ly to surp surplu lus s on reva revalu luat atio ion n of fixe fixed d asse assets ts.. Has Has the the incr incre ease ase been been reco recogn gnis ise ed in prof profit it or loss loss to CO84 Sec. 235 the the exte xtent that that it reve revers rses es a reva revalu luat atio ion n decr decrea ease se of the the same same asse assett prev previo ious usly ly reco recogn gnis ise ed in prof profit it or loss?
4.4
If an asset‟s ca rr rr yi yi ng ng am ou oun t i s decreased as a r e es su ltlt of a reval ua ua titi on on, has the decr e ea as se e been reco recogn gnis ise ed in prof profit it or loss loss.. Has Has the the decr decre ease ase been been debi debite ted d dire direct ctly ly to surp surplu lus s on reva revalu luat atio ion n of fixe fixed d CO84 Sec. 235 assets to the extent of any credit balance existing in the revaluation surplus in respect of that asset?
4.5
Has the amount equivalent to incremental depreciation along with its tax effect been transferred from surplus on revaluation of fixed assets to equity?
4.6
Has the Company disclosed the aggregate current and deferred tax relating to items that are
CO84 Sec. 235
charged or credited to surplus on revaluation of fixed assets in respect of the said revaluation?
5.0 5.0
5.1
STATE TATEME MEN NT OF CHA HAN NGES GES IN EQUI EQUIT TY
Does Does the Company Company pres present ent the stateme statement nt as a separa separate te compo componen nentt of its its financ financial ial state statement ments s showing:-
IAS 1.106(a),(b)
a)
the net net prof profit it or or loss loss for the the per period iod;;
b)
each item of income and expense that, as required by other Standards, is recognised directly in equity, and the total of these items;
c)
total income and expense for the period (i.e. the sum of "a" and "b" above), showing separately the total amounts attributable to equity holders of the parent and to minority interests;
d)
the cumulative effect effect of changes changes in accounting accounting policies policies and correct corrections ions of of errors errors recognised in accordance with IAS 8;
5.2
e)
the equity equity convers conversion ion eleme element nt of a conve convertib rtible le debt debt;;
f)
equityequity-set settle tled ds shar hare-b e-base ased d payme payment nt transac transaction tions. s.
IAS 32.28
IFRS 2.50
In additio addition n to 5.1 5.1 above above has has the the Company Company presen presented ted,, eithe eitherr within within the stateme statement nt of chan changes ges in equity or in the notes?
a)
the amounts amounts of of transactions transactions with equity equity holders holders acting in their capacity as equity equity holders, holders, showi ng separately distributions to equi ty hol ders;
b)
IAS 1.106(d)
the balance balance of retained retained earnings earnings at the beginning beginning of the period and at the the balance balance shee sheett date, and the changes during the period; and
c)
a reconciliation reconciliation between between the the carrying carrying amount of each class of contribute contributed d equity equity and each reserve at the beginning and the end of the period, separately disclosing each change.
5.3
IAS 1.106
Has the change change in the the reva revaluat luation ion surp surplus lus arisin arising g from from a chang change e in the decommiss decommissionin ioning, g, restoration and similar liability been disclosed in the statement of changes in equity as required by IAS 1?
5.4
IFRIC 1.6 d
Has the investor‟s share of changes recognised directly in the associate‟s equity been been disclosed in
IAS 28.39
the statement of changes in equity ? 5.5
Has the the Compan Company y presen presented ted separat separately ely any any cumulat cumulative ive inco income me or exp expens ense e recog recognise nised d directly directly in in equity relating to a non-current asset (or di sp sposal group) classified as held for sale?
5.6
IFRS 5.38
Has the the Compan Company y disclos disclosed ed s sep eparat arately ely the the aggre aggregate gate current current and defe deferre rred d tax relatin relating g to items items charged or credited to equity?
5.7
IAS 12.81(a)
Has the the Company Company class classifie ified d net exc exchang hange e differ differenc ences es in equit equity y as a separa separate te compone component nt of equit equity y and has a reconciliation of the amount of such exchange differences at the beginning and end of the peri od been disclosed?
5.8
IAS 21.52(b)
Has the Company Company reco recognis gnised ed actu actuaria ariall gains gains and and losses losses outside outside profit profit or loss as permitt permitted ed by by paragraph 93A of IAS 19
IAS 19.93B
Page 11 of 69
NO
N/ A
DISCLOSURE MADE YES 6 .0
NON-CURRENT LIABI LI LITI ES ES
6.1
Fourth Schedule Requirement 6.1.1
Has the the Company Company classified classified its non-curren non-currentt liabilities liabilities under under appropriate appropriate sub-heads, sub-heads, duly item ized such as:
6.1.2
( i) i)
l on ong te ter m fi na na nc nci ng ng;
(ii)
debentures;
(iii)
liabilitie liabilities s against against assets assets subject subject to financ finance e lease lease;;
(iv) (iv)
long long term term mura muraba baha ha;;
(v) (v)
long long term term de deposi posits ts;; and and
(vi) (vi)
defe deferr rre ed liab liabili iliti ties es..
Sch iv 8(a)
Have the l ong term lo loans been classifi ed as secured and unsecured, showing
Sch IV. 8(B)
separately under each class:
(i)
loans loans from from banking banking compa companie nies s and other other financ financial ial instit institutio utions, ns, othe otherr than those as specified in clause (ii) below;
6.1.3 6 .2
(ii) (ii)
loan loans s from from rel relat ated ed part partie ies; s; and and
(i iiii)
other l oa oans.
Have long-term deposits been cl assified accordi ng to their nature?
Sch IV. 8(C)
Lea se se Disc lo losure by by Less ee ee Finance Lease 6.2.1 Have the following disclosures been m ade for fi nance lease : a) b)
IAS 17.31
for each each class class of asset asset,, the net carrying carrying amount amount at the balance balance sheet sheet date date;; a reconc reconciliat iliation ion betwe between en the the total total of futu future re minimum minimum lease lease payme payments nts at at the balance sheet date, and their present value. In addition, a Company should disclose the total of future minimum lease payments at the balance sheet date, date, and their present value, for each of the following periods:
c)
d)
i)
not later than one year?
ii)
later than one year and not later than five years?
iii)
later than five years?
continge contingent nt rent rents s recog recogniz nized ed in income income for the period? period?
the total total of of future future minimum minimum sublea sublease se paymen payments ts expe expecte cted d to be rece receive ived d under under non-cancelable subleases at the bal ance sheet date? and
e)
a general general descri descriptio ption n of the lesse lessee's e's signif significan icantt leasing leasing arrange arrangement ments s including including,, but not limited to the following:
i)
ii)
the basis on which contingent rent payments are determined?
the existence and terms terms of renewal or purchase options and escalation clauses? and
iii) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing?
In addit addition ion,, the the requi require remen ments ts for disclo disclosu sure re in accor accorda dance nce with with IAS IASs s 16, 16, 36, 38,
IAS IAS 17.3 17.32 2
40 and 41 apply to lessees for assets leased under finance leases.
6.2 .2 .2
W he hen a l ea ease i nc ncl ud ud es es b ot oth l an and and b ui ui ld ldi ng ngs el em em en ents, has each el em em en ent been
I AS AS 17. 15 15
separately assessed for the classificati on as a finance or an operating lease?
In determining whether the land element is an operating or a finance lease, an important consideration is that land normally has an indefinite economic life.
Lease Payments under Operating Leases
6.2. 6.2.3 3 Has Has the the Compa ompany ny (the (the less lesse ee ) made made the the foll follow owin ing g disc disclo losu sure res s for for ope operati rating ng leas lease es:
(a)
the total total of of future future minimum minimum lease lease paymen payments ts under under non non cancel cancelable able operati operating ng leases for each of the following periods: i) not later than one year; ii) later than one year year and not later than five years; iii) later than five years; years;
(b)
the total of future future minimum sublease sublease payments payments expe expected cted to be received received under non cancelable subleases at t he balance sheet date;
Page 12 of 69
IAS IAS 17.3 17.35 5
NO
N/ A
DISCLOSURE MADE YES
(c)
lease and sublease sublease payments payments recognize recognized d as expense expense in the period, with separate separate amounts for minimum lease payments, contingent rents, and sublease payments;
(d)
a general general description description of the the lessee's lessee's significant leasing arrangements arrangements including, but not limited to, the following:
(i) the basis on which contingent rent payments are determined;
(ii) the existence existence and terms of renewal renewal or purchase options and escalation clauses; and
(iii) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing.
6.2.4 Sale and leaseback transactions Does the description of material leasing arrangements include disclosure of unique or unus unusua uall pro provi visi sion ons s of of the the agre agree ement ment or term terms s of of the the sale sale and and le leaseb asebac ack k ttra rans nsac acti tion ons? s?
IAS IAS 17. 17.65 65
6.2.5 Substance of transactions involving the legal form of a lease All aspec aspects ts of an arrang arrangeme ement nt that that does does not, not, in in sub substa stanc nce, e, involv involve e a lea lease se unde underr IAS IAS 17
SIC SIC 27. 27.10 10
shal shalll be be con consi side dere red d in in de determ termin inin ing g the the appr approp opri riat ate e dis discl clos osur ure es tha thatt are are nece necess ssar ary y to to
SIC 27.1 27.11 1
understand the arrangement and the accounting treatment adopted. When the Company has entered into arrangements that are leases in form but not in substance; has the Company disclosed, separately for each arrangement or each class of arrangements, the following information in each period that an arrangement exists:
a)
a desc descrip riptio tion n of the arran arrange geme ment nt inc includ luding ing::
– the underlying underlying asset and any restrictions restrictions on its use; – the life and other other significant terms of the arrangement; arrangement; – the transactions that are are linked together, together, including any options.
b)
the accoun accounting ting treatme treatment nt applied applied to any any ffee ee receiv received; ed;
c)
the amount amount of of fees fees recogni recognised sed as income income in the the peri period; od; and
d)
the line line item item of of the income income state statement ment in which which the the fee fee income income is included included..
6.2.6 Determining whether an arrangement contains a lease (IFRIC 4)
IFRIC 4 provides guidance for determining whether an arrangement, that does not take the lega legall for form m of of a leas lease e but but conv conve eys a rig right ht to use use an an ass asse et is, is, or cont contai ains ns,, a leas lease e that that
IFRI IFRIC C 4.1 4.12 2
shou should ld be acco accoun unte ted d for for in acco accord rdan ance ce with ith IAS IAS 17. 17. For For the the pur purpo pose se of appl applyi ying ng the the
IFRI IFRIC C 4.1 4.13 3
requirements of IAS 17, payments and other consideration required by the arrangement have to be separated. In some cases, it will be impractible to reliably separate the payments for the lease from payments for other elements in the arrangement.
6.2.7 If in case of an operating operating lease lease the Company Company is a purchaser purchaser and concludes concludes that that it is imprac impractic ticab able le to relia reliably bly sepa separat rate e the the payme payment nts s ffor or the the leas lease e from from paym paymen ents ts for for othe otherr
IFRI IFRIC C 4.15(b 4.15(b))
elements in the arrangement, has the Company:
a)
treate treated d all payment payments s under under the arran arrangeme gement nt as lease lease payme payments nts for for the purpo purpose se of complying with the disclosure requirements of IAS 17, but:
i. disclosed those payments separately from minimum lease payments of other arrangements that do not include payments for non-lease elements, and ii. stated that the disclosed payments also include payments for non-lease elements in the arrangement.
6.3 6.3
Defe Deferr rred ed Liab Liabil ilit itie ies s and and Emp Emplo loye yee e Ben Benef efit its s 6.3.1 Has the Company distinguished and disclosed the following separately:
a)
deferr e ed d taxati on on
b)
deferr deferred ed liabil liabilitie ities s for retire retirement ment and othe otherr staff staff benef benefits its ; and
c)
any othe otherr defe deferre rred d liability liability (specify (specifying ing sep separat arately ely material material items) items)
Sch II. 8(A)(vi)
6.3.2 Has the Company disclosed information that enables users of the financial statements to evaluate the nature of its defined benefit plans and the financial effects of changes in those plans during the period. 6.3.3 Has the Company disclosed disclosed the following following about defined defined benefit benefit plans?
IAS 19.120
IAS 19.120A
a)
the Compan Company's y's accou accountin nting g policy policy for for recogn recognizin izing g actuari actuarial al gains gains and and losses losses? ?
b)
a gene general ral desc descrip riptio tion n of the the typ type e of of plan? plan?
c)
a reconc reconciliat iliation ion of open opening ing and and closing closing balanc balances es of of the presen presentt value value of the the Page 13 of 69
NO
N/ A
DISCLOSURE MADE YES defined benefit obligation showing separately, if applicable, the effects during the period attributable to each of the following:
- current service cost, - interest cost, - contributions by plan participants, - actuarial gains and losses, - foreign currency exchange rate changes on plans measured in a currency different from the Company‟s presentation currency,
- benefits paid, - past service cost, - business combinations, - curtailments and - settlements.
d)
an analys analysis is of the the defi defined ned benefi benefitt obligatio obligation n into amounts amounts arising arising from plans plans that that are wholly unfunded and amounts arising from plans that are wholly or partly funded.
e)
a reconc reconciliat iliation ion of the the open opening ing and and closing closing balanc balances es of of the fair value value of plan plan assets and of the opening and closing balances of any reimbursement right recognised as an asset in accordance with IAS 19.104A showing separately, if applicable, the effects during the period attributable to each of the following:
- expected return on plan assets, - actuarial gains and losses, - foreign currency exchange rate changes on plans measured in a currency different from the Company‟s presentation currency,
- contributions by the employer, - contributions by plan participants, - benefits paid, - business combinations and - settlements.
f)
a reconc reconciliat iliation ion of the the presen presentt value value of the the define defined d benefi benefitt obligatio obligation n in (c) and and the fair value of the plan assets in (e) to the assets and liabilities recognised in the balance sheet, showing at least
- the net actuarial gains or losses not recognised in the balance sheet (see IAS 19.92); - the past service cost not recognised in the balance sheet (see IAS 19.96); - any amount not recognised as an asset, because of the limit in IAS 19.58(b); - the fair value at the balance sheet date of any reimbursement right recognised as an asset in accordance with IAS 19.104A (with a brief description of the link between the reimbursement right and the related obligation); and - the other amounts recognised in the balance sheet.
g)
the total total exp expens ense e recog recognise nised d in profit profit or loss loss for for each each of of the following following,, and the line item(s) in which they are included:
i) current service cost; ii) interest cost; iii) expected return on plan assets; iv) expected return on any reimbursement right recognised as an asset in accordance with IAS 19.104A; v) actuarial gains and losses; vi) past service cost; vii) the effect of any curtailment or settlement; and viii) the effect of the limit in IAS 19.58(b).
h)
the total total amount amount rec recogni ognised sed in in the state statement ment of of recogni recognised sed income income and exp expens ense e for each of the following: - actuarial gains and losses; and - the effect of the limit in IAS 19.58(b).
i)
for entit entities ies that recogni recognise se actu actuaria ariall gains gains and losses losses in in the stateme statement nt of of recognised income and expense in accordance with IAS 19.93A, the cumulative amount of actuarial gains and losses recognised in the statement of recognised income and expense.
j)
for each major category of plan assets, which shall include, but is not l imited to, equity instruments, debt instruments, property, and all other assets, the percentage or amount that each major category constitutes of the fair value of the total plan assets.
k)
the amounts amounts included included in the the fair value value of of plan plan assets assets ffor: or:
- each category of the Company‟s own financial instruments; and
- any property occupied by, or other assets used by, the Company.
Page 14 of 69
NO
N/ A
DISCLOSURE MADE YES l)
a narrativ narrative e descri descriptio ption n of the basis basis used used to dete determine rmine the the overa overallll expec expected ted rate rate of of return on assets, including the effect of the major categories of plan assets.
m)
the actu actual al return return on plan plan assets assets,, as well well as the the actua actuall return return on on any reimbursement right recognised as an asset in accordance with ISA 19.104A
n)
the princ principal ipal actu actuaria ariall assumptio assumptions ns used used (in (in absolut absolute e terms terms and and not just just as a margin between different percentages or other variables) as at the balance sheet date, including, when applicable:
- the discount rates; - the expected rates of return on any plan assets for the p eriods presented in the financial statements; - the expected rates of return for the periods presented in the financial statements on any reimbursement right recognised as an asset in accordance with IAS 19.104A; - the expected rates of salary increases (and of changes in an index or other variable specified in the formal or constructive terms of a plan as the basis for future benefit increases); - medical cost trend rates; and - any other material actuarial assumptions used. o)
the effect effect of an increase increase of one perce percentage ntage point and and the effect effect of a decrease decrease of one percentage point in the assumed medical cost trend rates on:
- the aggregate of the current current service cost and interest cost components of net periodic post-employment medical costs; and - the accumulated post-employm post-employm ent benefit benefit obligation for medical costs. p)
the amoun amounts ts for for the current current annua annuall period period and and previou previous s four four annual annual period periods s of:
- the present value of the defined benefit obligation, the fair value of the plan assets and the surplus or deficit in the plan; and - the experience adjustments arising on: (i) the plan liabilities expressed either as (1) an amount or (2) a percentage of the plan liabilities at the balance sheet date; and (ii) the plan assets expressed either as (1) an amount or (2) a percentage of the plan assets at the balance sheet date.
q)
the employer‟s best estimate of contributions expected to be paid to the plan
during the annual period beginning after the balance sheet date. 6.3.4 When the Company has more than one defined benefit plan, has the disclosures made in
IAS 19.122
total, separately for each plan, or in such groupings as are considered to be the most useful. It may be useful to distinguish groupings by criteria such as the following:
a)
the geogra geographic phical al locatio location n of the the plans plans,, for example example,, by disti distingui nguishin shing g domestic plans from foreign plans; or
b)
whethe whetherr plans plans are subjec subjectt to materi materially ally diffe differen rentt risks, risks, for for example example,, by distinguishing flat salary pension plans from final salary pension plans and from post-employment medical plans.
6.3.5 When the Company provides disclosures in total for a grouping of defined benefit plans, are such disclosures provided in the form of weighted averages or of relatively narrow ranges?
IAS 19.122
6.3.6 Has the Company Company offset offset an asset relating relating to one plan plan against a liability relating relating to another another plan when and only when the Company: a)
IAS 19.116
has a legally legally enfo enforce rceable able right right to use use a surplus surplus in one plan to sett settle le obligations under the other plan; and
b)
intends intends eithe eitherr to settle settle the obliga obligation tions s on a net net basis, basis, or realise realise the surpl surplus us in one plan and settle the obligation under the other plan simultaneously.
Multi employer Plan 6.3.7 For multi-employer plans that are accounted for as defined benefit plans, has the Company disclosed the information required by IAS 19.120A? 6.3.8 Has the following been disclosed for a multi-employer plan that is treated as a defined contribution plan when sufficient information is not available to use defined benefit accounting:
a)
b)
the fact fact ttha hatt the the plan plan is a def define ined d bene benefit fit plan? plan?
the reas reason on why why sufficie sufficient nt informa information tion is not avail available able to enabl enable e the the Compan Company y to account for the plan as a defined benefit plan?
c)
to the the exten extentt that a surplus surplus or or deficit deficit in the plan plan may affect affect the the amount amount of of future future contributions disclosed in addition:
(i) any available information about that surplus or deficit? deficit? (ii) the basis used used to determine determine that surplus or deficit?
Page 15 of 69
IAS 19.29(b)
IAS 19.30(b,c)
NO
N/ A
DISCLOSURE MADE YES (iii) the implications, if any, for the Company? Defined Benefit Plans that Share Risks between Various Entities under Common Control 6.3.9 When a Company participate participates s in a defined benef benefit it plan that shares shares risks betwee between n various entities under common control, Has the Company made the following disclosure in its separate or individual financial statem ents:
a)
IAS 19.34B
the contra contractu ctual al agreeme agreement nt or stated stated policy policy for for charging charging the net net define defined d benefit benefit cost or the fact that there is no such policy.
b)
c)
the policy policy for for deter determinin mining g the contribu contribution tion to be paid by the the Compan Company. y.
if the Company Company acco accounts unts for an allocatio allocation n of the the net net define defined d benefi benefitt cost cost in accordance with IAS 19.34A, all the information about the plan as a whole in accordance with IAS 19.120-121
d)
if the Compan Company y account accounts s for the the contrib contributio ution n payable payable for for the peri period od in accord accordance ance with IAS 19.34A, the information about the plan as a whole required in accordance with IAS 19.120A (b) to (e), (j), (n), (o), (q) and 19.121 only.
e)
participa participation tion by by a parent parent or subsid subsidiary iary in a defi defined ned ben benefi efitt plan that that shares shares risks risks between gr group entiti es which is is a tr transacti on between rel ated parties
IAS 24.20
Defined contribution plans
6.3.10 Has the Company Company disclosed the amount recognised recognised as an expense expense for defined defined contribution contribution plan?
IAS 19.46
6.3.11 Has the Com pa pany disclosed contributions to defined contribution plans for key
IAS 19.47
management personnel when required by IAS 24?
6 .4
Deferred Taxation 6.4.1 Has the Company Company disclosed disclosed the amount amount of a deferred deferred tax asset asset and the nature nature of the evidence supporting its recogni tion, when:
a)
IAS 12.82
the utiliz utilizatio ation n of the defer deferred red tax tax asset asset is depen dependen dentt on future future taxable taxable profi profits ts in excess of the profits arising from the reversal of existing taxable temporary differences? And
b)
the Compan Company y has suffe suffered red a loss loss in eithe eitherr the curre current nt or prece preceding ding perio period d in the tax jurisdiction to which the deferred tax asset relates?
6.4. 6.4.2 2 Has Has tthe he amou amount nt of unre unreco cogn gnis ise ed def defer erre red d tax tax liab liabili iliti ties es asso associ ciat ated ed with with inve invest stme ment nts s in
IAS IAS 12.8 12.87 7
subsidiaries, branches and associates and interests in joint ventures, for which deferred tax liabilities have not been recognised, been disclosed when this disclosure has not required undue cost or effort? 6.4.3 6.4.3 Has Has tthe he Compa Company ny disclo disclose sed d any any taxtax-re relat lated ed cont conting ingen entt liab liabili ilitie ties s and and cont conting ingen entt ass asset ets s in in
IAS IAS 12.8 12.88 8
accordance with IAS 37? 7 .0 7.1
CURRENT LI LIABILITIES Have Have the the curre current nt liabil liabiliti ities es and and pro provis vision ions s bee been n clas classif sifie ied d unde underr the the follow following ing subsub-he heads ads,, s so o far far as these are appropriate to the Company's business:
7.1.1 Trade and other other payables, payables, classified classified as:
a)
creditors;
b)
m urabaha;
c)
accrued liabilities;
d)
advance payments;
e)
payable to employee retirement benefit funds;
f)
unpaid and unclaimed dividend; and
g)
others ( to be specified, if material);
7.1.2 Interest, Interest, profit, return return or mark-up accrued accrued on loans loans and other other payables; payables;
7.1.3 7.1.3 Short Short term term borrowing borrowings s classifie classified d as: a)
short-te short-term rm borrowing borrowings, s, distingu distinguishi ishing ng betwe between en secure secured d and unsec unsecure ured d and between loans taken from: (i) banking companies and other financial institutions other than related parties; (ii) related parties; and (iii) others;
b)
short-te short-term rm running running finance finance,, distingui distinguishin shing g betwee between n secure secured d and unsecu unsecured red;;
7.1.4 7.1.4 current current portion portion of of long term term borrowin borrowings; gs; 7.1.5 7.1.5 current current portion portion of of long term term murabaha; murabaha; and 7.1.6 provision for taxation taxation,, showing separate separately ly income tax and and other taxes taxes..
Page 16 of 69
(Sch (Sch IV. IV. 9(A 9(A)) ))
NO
N/ A
DISCLOSURE MADE YES Provisions 7.2
For each cl ass of provisions, has the Com pany disclosed: a)
7.3
7.4
IAS 37.84
the the carr carr in amou amount nt at the the be inni innin n and and end of the the eriod riod? ?
b)
addition additional al rovision rovisions s made in the eriod, eriod, includin includin increas increases es to existin existin
c)
amount amount used used (i.e. (i.e. incurred incurred and and charged charged again against st the provi provision sion)) during during the period period? ?
rovision rovisions? s?
d)
unuse unused d amount amounts s reve revers rsed ed duri during ng the the perio period? d?
e)
the increas increase e during during the period in the discounted discounted amount amount arising arising from the passage passage of time and the effect of any change in the discount rate?
Has the Com pany discl osed the fol lowing for each class of provisions:
IAS 37.85
a)
a brie brieff desc descri ri tion tion of the the natu nature re of the the obl oblii atio ation n and and the the ex ex ecte ected d timin timin of an an resu result ltin in outflows of economic benefits?
b)
an indication indication of the uncertainties uncertainties about the the amount amount or timing of those outflows along with with ma or assu assum m tions tions made made conc concern ernin in future future events? events?
c)
the amount amount of any expe expected cted reimbursement, reimbursement, stating stating the amount of any asset asset that has has been recognized for that expected reimbursement.
In extre extremely mely rare cases, cases, disclosu disclosure re of some or all of the informati information on require required d by 7.2-7.3 7.2-7.3 above above
IAS 37.92 37.92
can be expected to prejudice seriously the position of the entity in a dispute with other parties on the subject matter of the provision, contingent liability or contingent asset. In such cases, has the Company disclosed the general nature of the dispute, together with the fact , and reason why, the information has not been disclosed? 8 .0
CONTINGENCIES
8.1
Whether Whether a footno footnote te to the the balance balance sheet sheet has been been adde added, d, show showing ing sepa separate rately, ly, -
8.1.1 8.1.1
aggre aggrega gate te amoun amountt of any guara guarante ntees es given given by by the the Comp Company any on beh behalf alf of any any rel relat ated ed party party
Sch Sch IV . 10(i) 10(i)
and where practicable, the general nature of the guarantee;
8.1.2 8.1.2
wher where e prac practic ticabl able e the the aggre aggrega gate te amount amount or est estima imate ted d amount amount,, if itit is mate materia rial, l, of of cont contrac racts ts
Sch Sch lV.1 lV.10 0 (ii) (ii)
for capital expenditure, so far as not provided for or a statement that such an estimate can not be made;
8.2
Has the following following been been added added as as a footno footnote te to to the balance balance sheet, sheet, separat separately ely::-
Any othe otherr commitment commitment,, if the amount amount is mater material, ial, indica indicating ting the the gene general ral nature nature of the com m itm ent?
8.3
Sch.IV 10(iii)
Unless Unless the the possib possibility ility of of any outfl outflow ow in sett settleme lement nt is remote remote,, has the the Compa Company ny disclos disclosed ed for for each each class of contingent liabili ty at the balance sheet date a)
8.4
IAS 37.86
an est estima imate te of its its ffina inanc ncial ial effe effects cts? ?
b)
an indicat indication ion of the the uncert uncertaint ainties ies relatin relating g to the amount amount or or timing of any any outflow outflow? ?
c)
the the ossi ossibi bili litt of an reim reimbu burs rse ement ment? ?
Where Where a provision provision and a continge contingent nt liability liability arise arise from the same set set of circumsta circumstance nces, s, has the
IAS 37.88 37.88
Company made the disclosures required by paragraphs 7.2-7.3 and 8.3 in a way that shows the link between the provision and the contingent liability? 8.5
Where Where an inflow inflow of economic economic benef benefits its is is probabl probable, e, has has a brie brieff descri descriptio ption n of the the natur nature e and and estim ate of the contingent assets at the bal ance sheet date been m ade?
8.6
IAS 37.89
Has the the fact fact been been s state tated d where where any any of the the above above informa information tion req require uired d by IAS IAS 37.86 37.86 and and 37.89 37.89 not not disclosed because it is not practicable to do so?
8.7
IAS 37.91
Has the Company Company disclose disclosed d any continge contingent nt liabilitie liabilities s and conting contingent ent assets assets in accordan accordance ce with
IAS 11.45 11.45
IAS 37- Provisions, Contingent Liabiliti es and Contingent Assets. Contingent liabili ties and
IAS 18.36
contingent assets may arise from such items as: -
warra warranty nty cos costs, ts, clai claims, ms, pen penalt altie ies s or possib possible le loss losses es..
-
unresolv unresolved ed dispute disputes s with the taxatio taxation n authorit authorities ies..
IAS 12.88 12.88
-
In the the con conte tex xt of of a mul multi ti-e -emp mplo loye yerr pla plan, n, a con conti ting ngen entt liab liabili ility ty may aris arise e fro from, m, for for exam exampl ple e:
IAS IAS 19. 19.32 32B B
a)
actuaria actuariall losses losses relating relating to to other other particip participatin ating g entitie entities s becaus because e each each entity entity that participates in a multi-employer plan shares in the actuarial risks of every other participating entity; or
b)
any resp respons onsibilit ibility y under under the the terms terms of a plan plan to finan finance ce any any shortf shortfall all in the the plan if other entities cease to participate.
-
8.8
contingent liabilities at the acquisiti on date in accordance with IFRS 3
IFRS-3.B 64(j)
The continge contingent nt liabilit liabilities ies recogni recognise sed d separa separatel tely y as part part of of allocat allocating ing the the cost cost of of a busine business ss combination are excluded from the scope of IAS 37. However, has the acquirer disclosed for those contingent contingent liabilities liabilities the information required required to be disclosed disclosed by IAS IAS 37 for each each class class of provision? provision?
8.9
Has the Com pany discl osed conti ngent li abilities arisi ng from :
a)
IFRS-3.B IFRS-3.B 67'(c) 67'(c)
IAS 19.125
postpost-emp employ loyme ment nt ben benef efit it oblig obligati ation ons? s?
Page 17 of 69
NO
N/ A
DISCLOSURE MADE YES b)
termi termina nati tion on bene benefi fits ts (e.g (e.g.. due due to the the unc uncer erta tain inty ty abou aboutt the the numb number er of empl employ oyee ees s who who will will
IAS IAS 19. 19.14 141 1
accept an offer of termination benefits)? unless the possibility of an outflow in settlement is remote. 8.10 8.10
Has Has tthe he Compa Company ny disclo disclose sed, d, as requi require red d by by IIAS AS 1, the natu nature re and and amou amount nt of termin terminati ation on bene benefit fits s ifif
IAS IAS 19.1 19.142 42
material?
8.11 8.11
Has the the Company Company as as a venture venturerr disclose disclosed d the aggre aggregate gate amount amount of conting contingenc encies ies sepa separate rately ly from Has Has the Compa Company ny as as a vent venture urerr disclo disclose sed d the aggre aggregat gate e amount amount of of contin continge genc ncie ies s separ separate ately ly from from
9 .0 9.1
a)
An contin contin encie encies s tha thatt the the Com Com an (ventu (venture rer) r) has incurr incurred ed in rel relati ation on to its inter interes estt in joint ventures and its share in each of the contingencies which have been incurred jointly with other venturers?
b)
Its share share of of the the conti contin n encies encies of the the oint venture ventures s themse themselve lves s for for which which it is contin contin entl entl liable; and
c)
Those contingencies contingencies that arise because because the (Company) venturer venturer is contingent contingently ly liable for the liabilities of the other venturers venturers of a oint venture?
IAS IAS 31.54 31.54
COM M ITM ENTS Has the Company Company as as a ventu venturer rer disclose disclosed d the aggreg aggregate ate amount amount of commitme commitments nts in in respe respect ct of its its interest in joint ventures separatel y from other com m itm ents:
9.1.1
IAS 31.55
Any capital capital commitments commitments of the venture venture in relation relation to its interes interests ts in joint ventures ventures and and its share in the capital commitments that have been incurred jointly with other venturers? and
9.1.2 9.1.2
9.2 9.2
9.3
Its share share of the the capital capital commitmen commitments ts of the joint joint ventur venturer er themse themselve lves? s?
Has Has the Compa Company ny disc disclos losed ed the the amou amount nt of commi commitme tments nts for for the the acqu acquisi isitio tion n of:of:a)
property, pl ant and equipm ent?
b)
i ntangible assets?
IAS 16.74c IAS 38.122(e)
Has the the Company Company disclo disclose sed d contract contractual ual obligat obligations ions to to purchas purchase, e, constr construct uct or deve develop lop invest investment ment property or for repairs, m ai ntenance or enhancem ents?
10.0 10.0
EVEN EVENTS TS AFTE AFTER R THE THE BA BALA LANC NCE E SHE SHEET ET DA DATE TE
10.1 10.1
Has Has the the Comp Compan any y dis discl clos ose ed in the the not notes es::
IAS 40.75(h)
a)
the amount of dividends proposed or declared before the financial statements were authorised for issue but not recognised as a distribution to equity holders during the period;
b)
the relat related ed amoun amountt per per share share;; and and
c)
the amoun amountt of any cumula cumulative tive prefe preferen rence ce divide dividends nds not not recogni recognised sed..
IAS 1.137
10.2
IAS 1.137
Is f ol ol lo lowi ng ng i nf nf or orm at at io ion d is iscl os osed fo r t he he m at ateri al al event s occur riri ng ng aft er er the ba la lance sheet
I AS AS 10. 21 21
date which do not affect the condition of assets or liabilities at the balance sheet date:
10.3 10.3
a)
the the natu nature re of event vent? ?
b)
an estimate estimate of the financial effect, effect, or a statement statement that such such an estimate cannot be made? made?
Has the the Company Company update updated d disclosu disclosure re in respe respect ct of the infor informatio mation n receive received d after after the balanc balance e sheet sheet date about conditions that existed at the balance sheet date?
11.0 11.0
FIXE FIXED D ASSE ASSETS TS (OTH (OTHER ER THAN THAN IN INVE VEST STMEN MENTS TS))
11.1
Property, Plant & Equipment
IAS 10.19
11.1.1 Have the fixed fixed assets, assets, other than than investments, investments, been been classified under under appropriate appropriate sub-heads; duly item ised such as:(i)
Sch IV. Part II.1(i )
Property, plant and equipment: (a) land (distinguishing between free-hold and leasehold); (b) buildings (distinguishing between buildings on free-hold land and those on leasehold land); (c) plant and machinery; (d) furniture and fittings; (e) vehicles; (f) (f) offic office e e ui ment ment;; (g) capital work in progress indicating significant item wise details; (h) development of property; and (i) others others (to (to be be s ecifie ecified). d).
(ii)
Intangible:
Sch IV. Part II.1(i i)
(a) goodwill; (b) brands names; (c) computer software; (d) licences and franchises; (e) patents, copyright, trade marks and designs; (f) intangible assets under under development; development; and (g) others (to be specified) 11.1.2 Whether the financial statements disclosed, for each class of property, plant and equipment, in the following manner: a)
the the meas measur urem eme ent basi basis su use sed d for for dete determ rmin inin in the the ross ross carr carr in amou amount nt
b)
the the de deprec precia iati tion on meth method ods s use used; d;
c)
the usef useful ul lives lives or the de recia reciatio tion n rates rates used used;;
d)
the gros gross s carrying carrying amoun amountt and the the accumula accumulated ted depr deprec eciatio iation n at the begi beginnin nning g and end of the period, aggregated with accumulated impairment losses. Page 18 of 69
IAS 16.73
NO
N/ A
DISCLOSURE MADE YES e)
a reconciliation of the carrying amount at the beginning and end end of the period
i)
additions;
ii
assets classified as held for sale or included in a disposal group
iii) iii)
acqui acquisit sition ions s throug through h busine business ss combi combinat nation ions; s;
iv)
incre increas ases es or decre decrease ases s dur durin in the the eriod eriod resu resulti ltin n from from rev revalu aluati ation ons s and and from from im airmen airmentt losse losses s rec reco o nized nized or reve revers rsed ed direc directl tl in e uit unde underr IAS IAS 36 'Impairment of Assets' (if any);
v)
impairm impairmen entt losse losses s reco recogni gnize zed d in income income stat statem emen ent; t;
vi)
im airmen airmentt los losse ses s rev rever erse sed d in in inc income ome state statemen ment; t;
vi i) i)
depr e ec ci at ati on on;
viii
the net exchange differences arising on the translation of the financial statements
i x) x)
ot he her m ov ovem en ents.
Exam les of other other moveme movements: nts: - the amount of borrowing costs capitalized during the period - the capitalization rate used to determine the amount of borrowing costs eligible for capitalization
11.1.3 W hether the fi nancial statem ents disclosed:
IAS 23.26
IAS 16.74 (a,b,d)
a)
the existe existence nce and amounts amounts of restric restriction tions s on title title,, and and prope property, rty, plant plant and equipment pledged as security for liabilities;
b)
the amoun amountt of expe expendit nditure ures s recogn recognise ised d in the the carryin carrying g amount amount of an an item item of property, plant and equipment in the course of its construction;
c)
if it is not disclo disclose sed d separa separatel tely y on the face face of of the income income state statemen ment, t, the amount amount of compensation from third parties for items of property, plant and equipment that were impaired, lost or given up that is included in profit or loss.
11.1.4 When items of property, property, plant and equipment equipment are stated stated at revalued revalued amounts, have the following been disclosed:
IAS 16.77
a)
the effe effecti ctive ve date date of the the rev revalu aluat ation ion;;
b)
whet whethe herr an inde indepe pend nden entt value valuerr was was involv involved ed;;
c)
the methods and significant assumptions applied in estimating the items‟ fair values;
d)
the extent to which the items‟ fair values were determined directly by reference to observable prices prices in an active market or recent market transactions on arm ‟s length terms or were estimated using other valuation techniques;
e)
the carry carrying ing amount amount of of each each class class of prope property rty,, plant plant and equip equipment ment that that would would have been included in the financial statements had the assets been been carried under the cost model
f)
the revalua revaluation tion surplus, surplus, indicatin indicating g the movement movement for the the peri period od and and any restrictions on the distribution of the balance to shareholders.
11.1. 11.1.5 5 Has Has tthe he follo followin wing g addi additio tiona nall info informa rmatio tion n bee been n disc disclos losed ed,, ifif fou found nd rele relevan vantt to to the the need needs s of of
IAS IAS 16.7 16.79 9
users: a)
the carryin carrying g amount amount of tempora temporarily rily idle idle prope property, rty, plant plant and equipme equipment; nt;
b)
the gros gross s carrying carrying amoun amountt of any fully fully depre depreciat ciated ed prope property, rty, plant plant and and equipme equipment nt that is still in use;
c)
the carry carrying ing amount amount of prope property, rty, plant plant and and equipme equipment nt retire retired d from active active use use and and not classified as held for sale as per IFRS 5; and
d)
when when the cost cost model model is used, used, the the fair fair value value of prope property, rty, plant plant and and equipme equipment nt when when this is materially different from the carrying amount.
11.1.6 Are the tax effects of revaluation disclosed?
IAS 12.20
11.1.7 Has the Company Company disclosed the effects effects of taxes taxes on income, if any, resulting resulting from the revaluation of property, plant and equipm ent in accordance with IAS 12?
11.2
IAS 16.42
Impairment of assets 11.2.1 Have the following following been been disclosed if an impairment loss for an individual individual asset (or cash-generating unit) recognized or reversed during the period is material to the financial statem ents of the Com pany as a whole:-
IAS 36.130
a)
the even events ts and and circumst circumstance ances s that that led to to the recogni recognition tion or or revers reversal al of the the impairment loss
b)
the the amo amoun untt of of the the im airm airmen entt loss loss reco reco niz nized or reve revers rsed ed
c)
for for an indi indivi vidu dual al asse asset: t: (i) the nature of the asset (ii) the the se ment to which which the asset asset belon belon s (base (based d on rimar format) format) as as define defined d in IFRS 8
d)
for for a cas cashh-ge gene nera rati ting ng uni unit: t: (i) a descri descri tion of the cash eneratin eneratin unit (such as whether whether it is a roduct line, a plant, a business operation, a geographical area, a reportable segment or other as defined in IFRS 8 (ii) the amount of the im airment loss reco reco nized nized or reve reversed: rsed:
Page 19 of 69
NO
N/ A
DISCLOSURE MADE YES – by class of assets assets – by reportable segment based based on the Company‟s primary f ormat as defined in IFRS 8
(iii (iii)) if the the a re atio ation n of of ass asset ets s ffor or ide identif ntif in the the cash cash-- ener enerat atin in unit unit has has chan ed since since the the revious revious estimat estimate e of of the the cash cash-- enerati eneratin n unit's unit's reco recover verable able amount, the Company should describe the current and former way of aggregating assets and the reasons for changing the way the cash-generating unit is identified; e)
whethe whetherr the reco recover verable able amount amount is its fair fair value value less less cost cost to sell sell or its value value in use use
f)
if recov recovera erable ble amoun amountt is fair fair value value less less cost cost to sell sell,, the basis basis used used to deter determine mine fair value less cost to sell (e.g. whether it was determined by reference to an active market or or in some other wa )
g)
if recove recoverabl rable e amount amount is value value in use, use, the the disco discount unt rates rates used used in in current current estima estimate te and previous estimate (if any) of value in use Note: Note: The The disclosu disclosures res in this this sectio section n relatin relatin to se se ments ments are are a com anies that a l IFRS 8.
licable licable to to those those
11.2 11.2.2 .2 Has Has the the Comp Compan any y asse assess ssed ed the the ind indic icat atio ion n abou aboutt the the imp impai airm rmen entt of each each clas class s of of asse assets ts..
IAS IAS 36. 36.9 9
11.2.3 If the answer to 11.2.2 is "YES" have have the following disclosures disclosures been been made in the financial statem ent for each cl ass of assets:
IAS 36.126
a)
the amoun amountt of impairme impairment nt losses losses recogni recognize zed d in the income income state statement ment during during the the period, and the line item of SOCI in which the losses are included?
b)
the amoun amountt of revers reversals als of impairme impairment nt losse losses s recogn recognize ized d in the income income state statement ment and the line item(s) of the SOCI in which the losses are reversed?
c)
the amoun amountt of impairmen impairmentt losses losses on reva revalue lued d assets assets recog recogniz nized ed in other other compr compreehensive income during the period?
d)
the amoun amountt of reve reversal rsals s of impairme impairment nt losse losses s revalue revalued d assets assets recogn recognize ized d directly directly in equity during the period?
11.2.4 If the Company Company reports reports segment segment information in accordance accordance with with IFRS 8 has has it* disclosed disclosed the following for each reportable segm ent
IAS 36.129
a)
the amount amount of impairmen impairmentt losses losses recogni recognised sed in profit profit or loss loss and and in other other comprehensive income during the period; and
b)
the amoun amountt of reve reversal rsals s of impairme impairment nt losse losses s recogn recognise ised d in profit profit or loss loss and and in other comprehensive income during the period.
11.2.5 When no information is disclosed disclosed in accordance accordance with 11.3.1, 11.3.1, has the Company Company disclosed disclosed the following information for the aggregate impairment losses and the aggregate reversals of im pairm ent losses recogni sed duri ng the period:
IAS 36.131
a)
the main main classe classes s of asse assets ts affec affected ted by impairme impairment nt losse losses s and the the main main classe classes s of assets affected by reversals of impairment losses.
b)
the main main event events s and circu circumsta mstance nces s that that led to to the recogn recognition ition of of these these impairment losses and reversals of impairment losses.
11.2.6 Has the Company Company disclosed the assumptions used used to determine determine the recovera recoverable ble amount of assets (cash-generati ng units) during the period.
IAS 36.132
11.2.7 Has the Company Company disclosed disclosed the following following information information for each cash-ge cash-generatin nerating g unit (group of units) for which the carrying amount of goodwill or intangible assets with indefinite useful lives allocated to that unit (group of units) is si gnificant in comparison with the Company‟s
t ot otal ca carr yi yi ng ng am am ou ount of of go goodwi llll or or in inta ng ngi bl bl e assets w wii th th in ind ef efi ni ni te te useful lili ve ves: a)
the carryin carrying g amount amount of goodwil goodwilll allocate allocated d to the the unit unit (grou (group p of units units); );
b)
the carry carrying ing amount amount of intang intangible ible asse assets ts with with indefinit indefinite e useful useful lives lives alloca allocate ted d to the unit (group of units);
c)
the basis on which the unit‟s (group of units‟) recoverable amount has been determined (i.e. value in use or fair value less costs to sell);
d)
if the unit‟s ( group of units‟) recoverable amount is based on value in use: – a description of each key assumption on which management has based its cash flow projections for the period covered by the most recent budgets/forecasts; – a description of management‟s management‟s approach to determining determining the value(s) value(s) assigned to each key assumption, whether those value(s) reflect past experience or, if appropriate, are consistent with external sources of information, and, if not, how and why they differ from past experience or external sources of information; – the period over which management has projected cash flows based on financial budgets/forecasts approved by management and, when a period greater than five years is used for a cash-generating unit (group of units), an explanation of why that longer period is justified; – the growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts; – the justification for using any growth rate that exceeds the long-term average growth rate for the products, industries, or country or countries in which the Company operates, or for the market to which the unit (group of units) is dedicated; and – the discount rate(s) applied to the cash flow projections
Page 20 of 69
IAS 36 36 .1 .134
NO
N/ A
DISCLOSURE MADE YES e)
if the unit‟s ( group of units‟) recoverable amount is based on fair value less costs
to sell, the methodology used to determine fair value less costs to sell. If fair value less costs to sell is not determined using an observable market price for the unit (group of units), the following information shall also be disclosed: – a description of each key assumption on which management has based its determination of fair value less costs to sell; and – a description of management‟s management‟s approach to determining determining the value(s) value(s) assigned to each key assumption, whether those value(s) reflect past experience or, if appropriate, are consistent with external sources of information, and, if not, how and why they differ from past experience or external sources of information; and
Page 21 of 69
NO
N/ A
DISCLOSURE MADE YES If fair value less cost to sell is determined using discounted cash flow projections, has the following information also been disclosed? - the period over which management has projected cash flows - the growth rate used to extrapolate cash flow projections - the discount rate applied to cash flow projections
f)
if a reason reasonably ably possible possible change change in a key key assu assumptio mption n on which which manageme management nt has has based its determination of the unit‟s (group of units‟) recoverable recoverable amount would cause the unit‟s (group of units‟) carrying amount to exceed its recoverable
amount: – the amount by which which the unit‟s (group of units‟) units‟) recoverable amount exceeds its carrying amount; – the value assigned to the key assumption; and – the amount by which the value assigned to the key assumption must change, after incorporating any consequential effects of that change on the other variables used to measure recoverable amount, in order for the unit‟s (group of units‟) r ecoverable ecoverable amount to be equal to its carrying amount.
11.2.8 Where some or all of the the carrying amount amount of goodwill goodwill or intangible assets assets with indefinite indefinite useful lives is allocated across multiple cash-generating units (groups of units), and the amount so allocated to each unit (group of units) is not significant in comparison with the Company‟s total carrying amount of goodwill or intangible assets with indefinite useful
l ives, has the Com pany disclosed:
IAS 36.135
a)
that fact; an and
b)
the aggre aggregate gate carryin carrying g amount amount of goo goodwil dwilll or intangib intangible le asset assets s with indef indefinite inite useful lives allocated to those units (groups of units).
11.2.9 Where the recove recoverable rable amounts amounts of any of those units (groups (groups of units) are based based on the the same key assumption(s) and the aggregate carrying amount of goodwill or intangible assets with indefinite useful lives allocated to them is significant in comparison with the Company‟s total carrying amount of goodwill or intangible assets with indefinite useful
l ives, has the Com pany disclosed:
IAS 36.135
a)
that fact;
b)
the aggre aggregate gate carryin carrying g amount amount of good goodwill will alloca allocate ted d to those those units units (groups (groups of units);
c)
the aggre aggregate gate carryin carrying g amount amount of intangib intangible le asset assets s with indef indefinite inite useful useful lives lives allocated to those units (groups of units);
d)
a des descri cripti ption on of the key key ass assump umptio tion(s n(s); );
e)
a description of management‟s approach to determining the value(s) assigned to the key assumption(s), whether those value(s) reflect past experience or, if appropriate, are consistent with external sources of information, and, if not, how and why they differ from past experience or external sources of information; and
f)
if a reason reasonably ably possible possible change change in the the key key assump assumption tion(s) (s) would would cause cause the the aggregate aggregate of the units‟ (groups of units‟) carrying amounts to exceed exceed the aggregate of their recoverable amounts: – the amount by which which the aggregate aggregate of the units‟ (groups of units‟) recoverable amounts exceeds the aggregate of their carrying amounts; – the value(s) assigned to the key assumption(s); and – the amount by which the value(s) assigned to the key assumption(s) must change, after incorporating any consequential effects of the change on the other variables used to measure recoverable amount, in order for the aggregate of the units‟ (groups of units‟) recoverable recoverable amounts to be equal to the aggregate of their carrying amounts.
11.3
Investm en ent P ro roperty 11.3.1
Has the Company disclosed disclosed the following: a)
whether i t applies the fair value m odel or the cost m odel;
IAS 40.75
b)
if it applies applies the the fair fair value value model, model, whethe whether, r, and in what what circu circumstan mstances ces,, propert property y interests held under operating leases are classified and accounted for as investment property;
c)
when when classif classificat ication ion is diffic difficult, ult, the the c crite riteria ria the the Company Company uses uses to distin distinguis guish h investment property from owner-occupied property and from property held for sale in the ordinary course of business;
d)
the method methods s and signif significan icantt assumpti assumptions ons applie applied d in deter determining mining the fair fair value value of of investment property;
e)
a stateme statement nt wheth whether er the the dete determina rmination tion of fair fair value value was was suppor supported ted by by market market evidence or was more heavily based on other factors (which the entity shall disclose) because of the nature of the property and lack of comparable market data;
f)
the exte extent nt to which which the fair fair value value of of invest investment ment prope property rty (as (as measure measured d or disclosed in the financial statements) is based on a valuation by an independent valuer who holds a recognised and relevant professional qualification and who has recent experience in the location and category of the investment property being valued;
g)
if there there has has been been no valuatio valuation n by an indepe independe ndent nt valuer valuer (as (as descri described bed in in f above), above), that fact; Page 22 of 69
NO
N/ A
DISCLOSURE MADE YES h)
the the amou amounts nts includ included ed in the the profit profit or los loss s for: for: – rental income from investment property; – direct operating expenses (including repairs and maintenance) arising from investment property that generated rental income during the period; and – direct operating expenses (including repairs and maintenance) arising from investment property that did not generate rental income during the period; – the cumulative change in fair value recognised in profit or loss on a sale of investment property from a pool of assets in which the cost model is used into a pool in which the fair value model is used (see IAS 40.32C); and
i)
the exis existen tence ce and and amount amounts s of restri restrictio ctions ns on the the realisa realisabilit bility y of inves investmen tmentt property or the remittance of income and proceeds of disposal; and
11.3.2 If the Company applies the fair value model, has it disclosed (in addition to the requirements of IAS 40.75) a reconciliation of the carrying amount of investment property at the beginning and end of the period, showing the following: a)
addition additions, s, disclosi disclosing ng separa separatel tely y those those resultin resulting g from acquisit acquisitions ions and and those those resultin resulting g from subsequent expenditure recognised in the carrying amount of an asset;
b)
addition additions s result resulting ing from from acquis acquisition itions s throug through h busine business ss combin combinatio ations? ns?
c)
IAS 40.76
assets assets class classifie ified d as held held for sale sale or or include included d in a dispos disposal al group group classif classified ied as as held for sale in accordance with IFRS 5 and other disposals;
d)
net net gains gains or los losse ses s from from fair fair valu value e adju adjustm stmen ents ts
e)
the net exchange differences ari sing on the translati on of into a di fferent presentation currency, and on the translation of a forei gn gn operati on on into the presentation currency of the reporting entity;
f)
t rra ansf er er s to an and fr from :
(i) inventories; and (ii) owner-occupied property; and g)
other mo movem en ents.
11..3.3 When a valuation obtained for an investment investment property is adjusted adjusted significantly for the purpose of the financial statements, has the Company disclosed a reconciliation between the valuation obtained and the adjusted valuation included in the financial statements, showi ng separately:
IAS 40.77
a)
the aggre aggregate gate amount amount of any any unrecog unrecognise nised d lease lease obliga obligation tions s that have have bee been n added back; and
b)
any any othe otherr sign signif ific ican antt adju adjust stme ment nts. s.
11.3.4 In the exceptional cases when the Company‟s policy is to account for investment properties at fair value, but because of the lack of a reliable fair value, it measures investment property at cost less any accumulated depreciation and any accumulated i m pairm ent losses, has the Com pany disclosed:
IAS 40.78
a)
a reconciliation – relating to that investment property separately separately – of the carrying amount at the beginning beginning and end of the period;
b)
a desc descrip riptio tion n of the inves investme tment nt prop proper erty ty;;
c)
an expl explanat anation ion of of why why fair fair value value canno cannott be determi determined ned reliably reliably;;
d)
if possible possible,, the range range of of estimate estimates s within within which which fair value value is highly highly like likely ly to lie; lie; and
e)
on dispo disposal sal of inves investmen tmentt prope property rty not carried carried at fair fair value value:: – the fact that the Company has disposed of investment property not carried at fair value; – the carrying amount of that investment property at the time of sale; – the amount of gain or loss recognised.
11.3.5 Has the foll owi ng been disclosed, if the cost m odel is used:a)
depr depre eciat ciatio ion n meth method ods s use used
b)
the usef useful ul live lives s or the the dep depre recia ciatio tion n rate rates s used used
c)
the gross gross c carry arrying ing amount amount and and the the accumula accumulated ted deprec depreciatio iation: n:
IAS 40.79
(i) at the beginning (ii) at the end of the period d)
a recon reconcilia ciliation tion of the the carryi carrying ng amount amount of of invest investment ment proper property ty at at the beginning and end of the period, showing the following: – additions, disclosing separately those additions resulting from acquisitions and those resulting from subsequent expenditure recognised as an asset; – additions resulting from acquisitions through business combinations; – assets classified as held for sale or included in a disposal group classified as held for sale in accordance with IFRS 5 and other disposals; – depreciation;
Page 23 of 69
NO
N/ A
DISCLOSURE MADE YES – the amount of impairment losses recognised, and the amount of impairment losses reversed, during the period in accordance with IAS 36; – the net exchange differences arising on the translation of the financial statements into a different presentation currency, and on translation of a foreign operation into the presentation currency of the reporting entity; – transfers to and from inventories and owner-occupied property; and – other changes;
e) f)
the fair value of investment property; and in the excep exception tional al cases cases (see (see IAS 40.53 40.53 for guida guidance nce), ), when when the the Compan Company y cannot determine the fair value of the investment property reliably, has the entity disclosed: – a description of the investment property; – an explanation of why fair value cannot be determined reliably; and – if possible, the range of estimates within which fair value is highly likely to lie.
11.4 11.4
Inta Intang ngib ible le Asse Assets ts (inclu (includi ding ng good goodwi will ll)) 11.4.1 Has the following following information information been disclosed disclosed for for each class class of intangible assets distin distingui guish shing ing bet betwe ween en inte interna rnally lly gene generat rated ed intan intangib gible le asse assets ts and and other other inta intangi ngible ble ass asset ets: s: a)
IAS IAS 38.11 38.118 8
whethe whetherr the use useful ful lives lives are indef indefinite inite or finite finite and, and, if finite finite the the useful useful lives lives or the the amortisation rates used; the amortisation methods used for intangible assets with definite useful lives; the gross carrying amount and the accumulated amortisation (aggregated with accumulated impairment losses): – at the beginning of the period; and – at the end of the period;
b)
the line line item( item(s) s) of the the income income stateme statement nt in which which any any amortis amortisatio ation n of intang intangible ible assets is included;
11.4.2 Has the Company Company disclosed the reconciliation reconciliation of the carrying carrying amount at the beginning beginning and end of the period showing:
IAS 38.118(e)
a)
addition additions s (indicat (indicating ing separa separatel tely y those those from from internal internal devel developme opment nt and throu through gh business combinations);
b)
assets assets class classifie ified d as held held for sale sale or or include included d in a dispos disposal al group group classif classified ied as as held for sale in accordance with IFRS 5 and other disposals;
c)
increas increases es or decre decrease ases s resultin resulting g from revalua revaluation tions s (in accorda accordance nce w with ith IAS IAS 38.75, 38.75, 38.85 and 38.86) and from impairment losses recognized or reversed directly in equity (in accordance with IAS 36);
d)
impairment impairment losse losses s recogni recognize zed d in the profi profitt and loss loss account account durin during g the peri period; od;
e)
impairm impairmen entt losse losses s reve revers rsed ed duri during ng the the per period iod;;
f)
am orti zati on;
g)
the net exchange differences arising on the translation of the financial statements into the presentation currency, and on the translation of a foreign operation into the presentation currency of the reporting Company; and
h)
other mo movem en ents.
11.4.3 Do the financial statem ents di sclose:
IAS 38.122
a)
for an intang intangible ible asse assett assesse assessed d as having having an indef indefinite inite useful useful life, life, the the carryin carrying g amount of that asset and reasons supporting the assessment of an indefinite useful life;
b)
in giving giving these these reaso reasons ns (see (see a. above above), ), has the the Company Company desc describe ribed d the facto factor(s) r(s) that played a significant role in determining that the asset has an indefinite useful life;
c)
for any individual intangible asset that is material to t he Company‟s financial statements:
- a description; - the carrying amount; and - remaining amortisation period; d)
for intan intangible gible assets assets acquire acquired d by way way of a gove governme rnment nt grant grant and and initially initially recognised at fair value: - the fair value initially recognised for these assets; - their carrying amount; and - whether they are measured after recognition under the cost model or the revaluation model;
e)
the exis existen tence ce and and carrying carrying amounts amounts of intangi intangible ble asset assets s whose whose title is is restric restricted ted and the carrying amounts of intangible assets pledged as security for liabilities.
Revalued intangible assets
11.4.4
If intangible assets are accounted for at revalued am ou ounts, has the Com pa pany
IAS 38.124
disclosed the following information: a)
by clas class s of of int intan angi gibl ble e asse assets ts:: – the effective date of the revaluation;
Page 24 of 69
NO
N/ A
DISCLOSURE MADE YES – the carrying amount of revalued intangible assets; and – the carrying amount that would have been recognised had the revalued class of intangible assets been measured after recognition using the cost model in IAS 38.74;
b)
the amoun amountt of the the revalu revaluatio ation n surplus surplus that that relate relates s to intang intangible ible assets assets at the beginning and end of the period, indicating the changes during the period and any restrictions on the distribution of the balance to shareholders; and
c)
the method and significant assumptions applied in estim ating the assets‟ fair values.
Other information 11.4.5 Has the Com pany disclosed the following inform ation:
11.5 11.5
IAS 38.128
a)
a descri descriptio ption n of any any fully fully amortis amortised ed intan intangible gible asset asset that that is is still still in use; use;
b)
a brief brief descrip description tion of of significa significant nt intangib intangible le asse assets ts control controlled led by the the entit entity y but not not recognised as assets because they did not meet the recognition criteria of IAS 38 or because they were acquired or generated before the version of IAS 38 Intangible Assets issued in 1998 was effective.
Good Goodwi will ll and and Nega Negati tive ve Good Goodwi will ll 11. 5. 5.1 Has the Co mp mpany d is iscl os osed th e f ol ol lo lowi ng ng i nf nf or orm at at io ion t ha hat ena bl bl es es user s of i ts ts
IF FR RS 3 .b .b 6 7( 7(d)
financial statements to evaluate changes in the carrying amount of goodwill during the period: a)
the gross gross amount amount and and accumu accumulate lated d impairme impairment nt losse losses s at the the begi beginnin nning g of the period;
b)
addition additional al goodwil goodwilll recognis recognised ed during during the the period period exc except ept good goodwill will include included d in a disposal group that, on acquisition, meets the criteria to be classified as held for sale in accordance with IFRS 5;
c)
adjustme adjustments nts result resulting ing from from the subse subseque quent nt recogni recognition tion of defer deferred red tax tax asset assets s during the period;
d)
goodwill goodwill includ included ed in a disposa disposall group group classifi classified ed as as held held for sale sale in in accorda accordance nce with IFRS 5 and goodwill derecognised during the period without having previously been included in a disposal group classified as held for sale;
e)
impairm impairmen entt losse losses s reco recogni gnise sed d during during the the per period iod;;
f)
net net exch exchan ange ge diff differ eren ence ces s arisin arising g during during the the per period iod;;
g)
any other other change changes s in the carrying carrying amount amount during during the period; period; and
h)
the gros gross s amount amount and and accumula accumulated ted impairment impairment losses losses at at the end end of the the period period..
11.5.2 Where the initial allocation allocation of goodwill goodwill acquired in a business business combination combination was incomplete incomplete at reporting date, therefore goodwill was not allocated to a cash generating unit (group of units) at the reporting date, has the Com pany di sclosed: a) b)
IAS 36.133
the the amou amount nt of of the the unal unalloc locate ated d good goodwil will; l; and and the reas reason ons s wh why y that that amou amount nt remai remains ns una unallo lloca cate ted. d.
11.5. 11.5.3 3 If goodw goodwill ill has been been alloc allocate ated d to to a cash cash-ge -gene nerat rating ing unit unit and and the Compa Company ny dispos disposes es of an
IAS IAS 36.8 36.86 6
operation within that unit, has the goodwill associated with the operation disposed of :
11.6
a)
included included in in the carry carrying ing amount amount of the the opera operation tion whe when n determi determining ning the the gain gain or loss loss on disposal; and
b)
measure measured d on the basis basis of of the rela relative tive values values of the the opera operation tion dispo dispose sed d of and the the portion of the cash-generating unit retained, unless the entity can demonstrate that some other method better reflects the goodwill associated with the operation disposed of.
Governm en ent Grants 11.6.1 Do the financial statem ents contain:
IAS 20.39
a)
the accoun accounting ting policy policy adop adopted ted for govern government ment grants; grants;
b)
the methods methods of pres present entatio ation n adopte adopted d in the the finan financial cial state statement ments; s;
c)
disclosu disclosure re of the the nature nature and exte extent nt of the the govern governmen mentt grants grants recog recogniz nized ed in the the financial statements, if any, and an indication of other forms of government assistance from which the Company has directly benefited;
d)
Unfulfil Unfulfilled led condit conditions ions and and other other continge contingencie ncies s attache attached d to governme government nt assista assistance nce that have been recognized;
11.6.2 Are the following governmen governmentt loans appropriately appropriately accounte accounted d for and disclosed disclosed as government grants according to the substance? a)
b)
A forgiva forgivable ble loan loan from from the Governme Government nt when when ther there e is reaso reasonabl nable e assura assurance nce that the entity wil l m eet the term s for forgiveness of the loan
IAS 20.10
The benefi t of a governm ent loan at below the m arket rate of i nterest.
IAS 20.10A
Which shall be measured as the difference between the initial carrying value of the loan determined under IAS 39 and the proceeds received.
Page 25 of 69
NO
N/ A
DISCLOSURE MADE YES 12.0 12.1 12.1
LO NG NG- TE TERM I NV NVESTM EN ENTS Has the the Compan Company y shown shown under under separat separate e sub-he sub-heads ads the the aggre aggregate gate amount amount in respe respect ct of the the fol lowing: (i) (ii) (ii)
12.2 12.2
Sch IV, Part II.2(A)
Inves Investme tments nts in rel relat ated ed partie parties; s; and and othe otherr inve invest stme ment nts s
Has Has the the Comp Compan any y sho shown wn the the abo above ve inve invest stme ment nts s und unde er the the head head long long term term inve invest stme ment nts s and and
Sch Sch IV, IV, Part Part II II.2 .2(B (B))
indicated separately whether: a) b) c) d) 12.3
at cost; usin using g the the equit quity y meth method od;; held to to maturity investments, investments, which which are are not not due to mature within next next twelve twelve months; months; and available for sale investments, investments, which which are not intended intended to be sold within within next next twelve twelve months. months.
Associates 12.3.1 Has the Company classified the investment in associate as „held for sale' and account for it in accordance with IFRS 5 where the investment is classified as held for sale in accordance with IFRS 5.i.e that its carrying amount will be recovered principally through sales transaction rather than through continuing use.
IAS 28.14
12.3.2 Has the Com pany disclosed the following:
IAS 28.37
a)
the fair fair value value of of investme investments nts in assoc associate iates s for which which there there are publi publishe shed d price price quotations;
b)
summarise summarised d financia financiall informati information on of asso associat ciates, es, including including the the aggre aggregate gated d amounts of assets, liabilities, revenues and profit or loss;
c)
the reas reasons ons why why the the invest investor or conclu conclude des s that that it has signific significant ant influe influence nce in situations where it holds directly, or indirectly through subsidiaries less than 20 per cent of the voting or potential voting power of the investee;
d)
the reas reasons ons why why the investo investorr conclude concludes s that it does does not not have have signific significant ant influe influence nce in situations where it holds directly, or indirectly through subsidiaries, 20 per cent or more of the voting or potential voting power of the investee;
e)
the repor reporting ting date date of the the financia financiall statement statements s of an associat associate, e, when when such such financia financiall statements are used in applying the equity method and are as of a reporting date or for a period that is different from that of the investor, and the reason for using a different reporting date or different period;
f)
the natu nature re and and exte extent nt of any any significa significant nt restr restrictio ictions ns (e.g. (e.g. result resulting ing from from borrowing borrowing arrangements or regulatory requirements) on the ability of associates to transfer funds to the investor in the form of cash dividends, repayment of loans or advances;
g)
the unre unrecog cognise nised d share share of losses losses of of an assoc associate iate,, both both for the the period period and and cumulatively, if an investor has discontinued recognition of its share of losses of an associate;
h) i)
the fact that an associate is not accounted for using the equity method in acco accord rdan ance ce with with IAS IAS 28. 28.13 13;; and and summarise summarised d financ financial ial informa information tion of assoc associate iates, s, eithe eitherr individu individually ally or or in groups groups,, which are not accounted for using the equity method, including the amounts of total assets, total liabilities, revenues and profit or loss.
12.3.3 Has carrying carrying amount of investments investments in associate associates s accounted accounted for using the the equity equity m ethod been disclosed as a separate item i n the balance sheet?
IAS 28.38
12.3.4 Has the Company‟s share of any discontinued operations of such associates accounted for using the equity m ethod been disclosed separately?
12. 3. 3.5
12.4
IAS 28.38
Ha s the Co Com pa pany, in in ac accord an ance wi wi th th IA IAS 37 37, di di sc scl os osed th the fo fol lo lowi ng ng in in fo for ma mati on on : a)
its share share of of the cont continge ingent nt liabilitie liabilities s of an assoc associate iate incu incurre rred d jointly jointly with othe otherr investors; and
b)
those those conting contingent ent liabilit liabilities ies that that arise arise becaus because e the inves investor tor is seve severally rally liable liable for for all or part of the liabilities of the associate.
I AS AS 28 28. 40 40
Joint Ventures 12.4.1 Has the Company Company if a venturer venturer disclosed disclosed listing and and description description of interests interests in significant significant joint ventures and the proportio n of ownership interest held in joi ntly controlled entiti es?
IAS 31.56
12.4.2 If the Compa Company ny (ventu (venture rer) r) reco recogni gnise ses s its inter interes estt in jointl jointly y contr controll olled ed compa companie nies s using using the the line line by line reporting format for proportionate consolidation or the equity method, has it disclosed: IAS 31.56 a) b) c) d) e) f)
current assets? long-term a ss ssets? cur re rent lili ab abi lili titi es es? long long-t -te erm liab liabil ilit itie ies? s? income income (e.g (e.g.. total total of of reve revenue nue and other other opera operating ting income)? income)? expen expenses ses (e. (e.g. g. total total of operati operating ng expen expense ses, s, and net net inter interes estt expe expense nse)? )?
12.4 12.4.3 .3 Has Has the the Compa ompany ny (ve (ventur nture er) disc disclo lose sed d the the meth method od it use uses to to re recogn cognis ise e its its inte intere rest sts s in in jointly contr olled entities.
Page 26 of 69
IAS IAS 31. 31.57 57
NO
N/ A
DISCLOSURE MADE YES 12.5
Subsidiaries 12.5.1 Has a parent parent not presente presented d consolidated consolidated financial financial statements statements to comply with IFRSs, IFRSs, if and only if: a)
b) c) d)
IAS 27.10 it is a wholly-o wholly-owne wned d subsidiar subsidiary y or the owne owners rs of the the minority minority intere interests sts,, including including those not otherwise entitled to vote, do not object to the parent not presenting consolidated financial statements; its secu securit ritie ies s are are not public publicly ly trad traded ed;; it is not not in the proces process s of issuin issuing g secur securitie ities s in public public securi securitie ties s markets markets;; the ultimat ultimate e or intermed intermediate iate pare parent nt publishe publishes s consolida consolidated ted finan financial cial state statement ments s that comply with IFRSs.
12.5.2 Has the Company Company prepared prepared consolidate consolidated d financial statement statements s using uniform accounting accounting policies for li ke transactions and other events i n sim il ar ci rcum stances?
IAS 27.24
12.5.3 Has non controlling controlling interest interest been presente presented d in the consolidated consolidated SoFP within equity, equity, separately from the equity of the owners of the entity?
IAS 27.27
12.5.4 In consolidated consolidated financial financial statements, statements, has the following been been disclosed: disclosed: a)
the natu nature re of the the relatio relationsh nship ip betwe between en the the parent parent and and a subsidia subsidiary ry when when the the parent does not own, directly or indirectly through subsidiaries, more than half of the voting power;
b)
the reaso reasons ns why the the owners ownership, hip, held held directly directly or indire indirectly ctly throug through h subsidiar subsidiaries ies,, of more than half of the voting or potential voting power of an investee does not constitute control;
c)
the reporting date of a subsidiary‟s financial statements when it is different from that of the parent, and the reason for using a different reporting date or period; and
d)
the nature nature and and exte extent nt of any signific significant ant restr restrictio ictions ns (e.g. (e.g. resulti resulting ng from borrow borrowing ing arrangements or regulatory requirements) on the ability of subsidiaries to transfer funds to the parent in the form of cash dividends or to repay loans or advances.
e)
a schedule schedule that that shows shows the the effec effects ts of any change changes s in a parent's parent's owne ownersh rship ip interes interestt in a subsidiary that do not result in a loss of control on the equity attributable to owners of the parent; and
f)
If contro controll of a subsid subsidiary iary is is lost, lost, the parent parent shall shall disclos disclose e the the gain gain or loss, loss, if any, recognized in accordance with IAS 27, and
IAS 27.41
(i) the portion of that gain or loss attributable to recognizing recognizing any investment retained in the former subsidiary at its fair value at the date when control is lost; and (ii) the line item(s) in the income statement in which the gain or loss is recognized. 12.5.5 Have the following disclosures been made in the parent‟s separate financial statements that elects not to present consolidated financial statements (in accordance with IAS 27.10 above): a)
IAS 27.42 the fact fact that that the financia financiall statement statements s are sepa separate rate financia financiall stateme statements; nts; that the exemption from consolidation has been used;
b)
the name name and and count country ry of incorp incorporat oration ion or resi residen dence ce of of the Company Company whose whose consolidated financial statements that comply with IFRSs have been produced for public use (and the address where these are obtainable);
c)
a list of signif significan icantt investme investments nts in subsid subsidiarie iaries, s, jointly jointly contro controlled lled entit entities ies or or associates, including the name, country of incorporation or residence, proportion of ownership interest and, if different, proportion of voting power held; and
d)
A descr descriptio iption n of the the method method used used to accou account nt for for investme investments nts in in subsidia subsidiarie ries, s, associates and jointly controlled entities.
12.5.6 Has the following disclosures been made in the parent‟s (other than a parent covered by IAS 27.421)/ venturer‟s/investors separate financial statements, been made:
IAS 27.43
a)
the fact fact that that the financia financiall stateme statements nts are are separa separate te financ financial ial stateme statements nts;;
b)
the reas reasons ons why why those those separ separate ate finan financial cial state statement ments s are prep prepare ared d if not required by law;
c)
a list of signif significan icantt investme investments nts in subsid subsidiarie iaries, s, jointly jointly contro controlled lled entit entities ies or or associates, including the name, country of incorporation or residence, proportion of ownership interest and, if different, proportion of voting power held; and
d)
a descri descriptio ption n of the the method method used used to accoun accountt for inve investme stments nts in subs subsidiar idiaries ies,, associates and jointly controlled entities.
12.5.7 Has profit or loss and and each component component of other other comprehensiv comprehensive e income been been attributed attributed to owners of the parent and to the non-controlli ng interest.
IAS 27.28
12.5.8 Has total comprehensiv comprehensive e income been been attributed attributed to the owners owners of the parent and to the non controlling interests even if this results in the NCI having a deficit balance?
12.6 12.6
Inve Invest stme men nts - Fin Finan anci cial al Asse Assets ts 12.6.1 For all transfers that involve collateral, collateral, if the transferee transferee has the right by contract contract or custom to sell or repledge the collateral, has the transferor reclassified that asset in its balance sheet separately from other assets?
12.7 12.7
IAS 39.37(a)
Fina Financ ncial ial Instr Instrume ument nt-- Gene General ral Di Disc sclo losu sure re
Page 27 of 69
NO
N/ A
DISCLOSURE MADE YES 12.7.1 Classes of financial financial instruments instruments and and level of disclosure disclosure When IFRS 7 requires disclosures by class of instrument, has the financial instruments been grouped financial instruments into classes that are appropriate to the nature of the information disclosed and that take into account the characteristics of those financial instruments? W he hen IF IFRS 7 requi re res di di sc scl os osure by by cl cl as ass of of in instr u um m en ent, ha has su suf fifi ci ci en ent in infor ma mati on on
IFRS 7.6
IFRS 7. 7.6
been provided to permit reconciliation to the line items presented in the balance sheet? 12.7.2 Significance Significance of financial financial instruments instruments for financial position position and performance
Has informatio n been disclosed that enables users of its financial statements to evaluate
IFRS 7.7
the significance of financial instruments for its financial position and performance? balance sheet Categories of financial assets and financial liabilities 12.7.3 Has the carrying amounts of each of the following categories, as defined in IAS 39 Financial Instruments: Recognition and Measurement, been disclosed either in the balance sheet or in the notes: a) financi al assets at fair value through profit or loss, showi ng separately:
IFRS 7.8(a)
i) those designated as such upon initial recognition; and ii) those classified as held for trading in accordance with IAS 39;
b) held-to-m aturity investm ents;
IFRS 7.8(b)
c) l oans and receivables;
IFRS 7.8(c)
d) availabl e-for-sale fi nancial assets;
IFRS 7.8(d)
e) financi al liabilities at fair value through profit or loss, showing separately:
IFRS 7.8(e)
i) those designated as such upon initial recognition; and ii) those classified as held for trading in accordance with IAS 39; and
f) financi al liabilities m easured at am ortised cost?
IFRS 7.8(f)
Financial assets or financial liabilities at fair value through profit or loss 12.7.4 If the entity has designated a loan or receivable (or group of loans or receivables) as at fair value through profit or loss, has it disclosed the following? a) t he he m ax axi mu mum exposu re re to credi t r is isk o f th e l oa oan o r r e ec cei va vabl e ( o orr gro up up of l oa oa ns ns
IFRS 7.9( a a))
or receivables) at the end of the reporting period (see note 1 below);
b) the amount by which any related related credit derivatives derivatives or similar instruments instruments mitigate that
IFRS 7.9(b)
maximum exposure to credit risk;
c) the amount of change, change, during the period and cumulatively, cumulatively, in the fair value of the loan or
IFRS 7.9(c)
receivable (or group of loans or receivables) that is attributable to changes in the credit risk of the financial asset determined either: i) as the amount of change in its fair value that is not attributable to changes in market conditions that give rise to market risk (see note 2 below); or ii) using an alternative method the entity believes more faithfully represents the amount of change in its fair value that is attributable to changes in the credit risk of the asset; and d) the the amo amoun untt of of the the chan change ge in the the fai fairr val value ue of any any re relate lated d cre credi ditt de deriva rivati tive ves s or or sim simil ilar ar
IFRS IFRS 7.9( 7.9(d) d)
instruments that has occurred during the period and cumulatively since the loan or receivable was designated as at fair value through profit or loss. 12.7.5 If the entity has designated a financial liability as at fair value through profit or loss in accordance with paragraph 9 of IAS 39, has it disclosed the following? a) the amount amount of of chang change, e, during during the period period and cumulativ cumulatively ely,, in the fair value value of the the financia financiall
IFRS IFRS 7.10 7.10(a) (a)
liability that is attributable to changes in the credit risk of that liability determined either: i) as the amount of change in its fair value that is not attributable to changes in market conditions that give rise to market risk (see also paragraph B4 of IFRS 7, as detailed below); or ii) using an alternative method the entity believes more faithfully represents the amount of change in its fair value that is attributable to changes in the credit risk of the liability; and b) the difference betwee between n the financial liability‟s carrying amount and the amount the entity
IFRS 7.10(b)
would be contractually required to pay at maturity to the holder of the obligation. 12.7.6 Has the following been disclosed? a) the methods methods used to determine determine the amount of change change that is attributable attributable to changes changes in credit credit risk risk in complianc compliance e with with the requ require irement ments s in paragrap paragraphs hs 9(c) 9(c) and 10(a) 10(a) of IFRS IFRS 7 (see (see above); and
b) if the entity believes believes that the disclosure disclosure it has given to comply with the requirements requirements in paras 9(c) or 10(a) of IFRS 7 does not faithfully represent the change in the fair value of the financial asset or financial liability attributable to changes in its credit risk, the reasons for Page 28 of 69
IFRS IFRS 7.11(a) 7.11(a)
NO
N/ A
DISCLOSURE MADE YES reaching this conclusion and the factors it beli eves are rel evant.
IFRS 7.11(b)
Reclassification 12.7.7 If the entity has reclassified a financial asset (in accordance with paragraphs 51 to 54 of IAS 39) as one measured a) at cost or am ortised cost, rather than at fair value; or
IFRS 7.12(a)
b) at fair value, rather than at cost or am ortised cost,
IFRS 7.12(b)
has it disclosed the amount reclassified into and out of each category and the reason for that reclassification (see paragraphs 51 to 54 of IAS 39).
12.7.8 If the entity has reclassified a financial asset out of the fair value through profit or loss category in accordance with paragraph 50B or 50D of IAS 39 or out of the available-for-sale category in accordance with paragraph 50E of IAS 39,has it disclosed? a) the am ount reclassi fied into and out of each category;
IFRS 7.12A(a)
b) for each each rep report orting ing perio period d until until dere dereco cogn gniti ition on,, the the carr carryin ying g amou amount nts s and and fair fair value values s of of all all
IFRS IFRS 7.12A 7.12A(b (b))
financial assets that have been reclassified in the current and previous reporting periods;
c) if a financia financiall asse assett was was reclass reclassifie ified d in accordan accordance ce with paragrap paragraph h 50B, 50B, the rare situatio situation, n,
IFRS IFRS 7.12A 7.12A(c) (c)
and the facts and circumstances indicating that the situation was rare;
d) for the the report reporting ing period period when when the the financ financial ial asset asset was was reclass reclassifie ified, d, the fair value value gain or loss loss
IFRS IFRS 7.12A( 7.12A(d) d)
on the financial asset recognised in profit or loss or other comprehensive income in that reporting period and in the previous reporting period;
e) for each each rep report orting ing perio period d follo followi wing ng the the recla reclass ssifi ificat cation ion (inclu (includin ding g the the rep report orting ing perio period d in
IFRS IFRS 7.12 7.12A( A(e) e)
which the financial asset was reclassified) until derecognition of the financial asset, the fair value gain or loss that would have been recognised in profit or loss or other comprehensive income if the financial asset had not been reclassified, and the gain, loss, income and expense recognised in profit or loss; and
f) the the eff ffe ectiv ctive e inte intere rest st rate rate and and est estima imate ted d amo amoun unts ts of cash cash flow flows s tthe he enti entity ty expec xpects ts to
IFRS IFRS 7.12 7.12A( A(f) f)
recover, as at the date of reclassification of the financial asset. Derecognition 12.7.9 The entity may have transferred financial assets in such a way that part or all of the financial assets do not qualify for derecognition (see paragraphs 15 to 37 of IAS 39). Has the entity disclosed, for each class of such financial assets: a) th t he nature of the assets not derecogni sed?
IFRS 7.13(a)
b) the the nat natur ure e of of the the ris risks ks and and rew rewar ards ds of own owner ersh ship ip to to whi which ch the the ent entit ity y rema remain ins s ex expose posed? d?
IFRS IFRS 7.13 7.13(b (b))
c) when when the the entit ntity y cont contin inue ues s to reco recogn gnis ise e all all of of the the asse assets ts,, the the carr carryi ying ng amou amount nts s of the the
IFRS IFRS 7.13 7.13(c (c))
assets and of the associated liabilities? and
d) when t he he ent itity con titi nu nues t o recogn is ise the assets to th the ext en ent of of itits con titi nu nui ng ng
IF FR RS 7 .1 .13( d d))
involvement, the total carrying amount of the original assets, the amount of the assets that the entity continues to recognise, and the carrying amount of the associated liabilities?
Collateral 12.7.10 Has the following been disclosed? a) the carrying carrying amount of financial assets assets it has pledged as collateral collateral for either either liabilities or contingent liabili ties, including amounts that have been reclassified in the statement of
IFRS 7.14(a)
financial position separately from other assets as the transferee has the right to sell or repledge, in accordance with paragraph 37(a) of IAS 39; and
b) the term s and conditions relating to its pledge.
IFRS 7.14(b)
When the entity holds collateral (of financial or non-financial assets) and is permitted to sell or repledge the collateral in the absence of default by the owner of the collateral, it shall disclose:
i ) the fair val ue of such collateral held;
IFRS 7.15(a)
ii) the fair fair valu value e of any such such collat collater eral al sold sold or reple repledg dged ed,, and and whet whethe herr the the entit entity y has has an
IFRS IFRS 7.15( 7.15(b) b)
obligation to return it; and
c) the term s and conditions associated with i ts use of the col lateral .
IFRS 7.15(c)
Allowance account for credit losses 12.7.11 When financial assets are impaired by credit losses and the entity records the impairment in a separate account (e.g. an allowance account used to record individual impairments or a similar account used to record a collective impairment of assets) rather than directly reducing the carrying amount of the asset, has it disclose a reconciliation of changes in that account during the period for each class of financial assets?
12.7.12 Compound financial instruments with multiple embedded derivatives derivatives Page 29 of 69
IFRS 7.16
NO
N/ A
DISCLOSURE MADE YES
If tth he entity ha has is issued an an in instrum en ent th that c co ontains bo both a liabi lility an and an an eq equity
IFRS 7.17
component, and the instrument has multiple embedded derivatives whose values are interdependent (such as a callable convertible debt instrument), has the existence of those features been disclosed?
12.7.13 Defaults Defaults and breaches breaches For loans payable recognised at the end of the reporting period, has the following been disclosed?
a) detai details ls of any any defau defaults lts dur during ing the the per period iod of of princ principa ipal, l, inte intere rest st,, sinkin sinking g fund, fund, or red redemp emptio tion n
IFRS IFRS 7.1 7.18(a 8(a))
terms of those loans payable;
b) the carry carrying ing amou amount nt of of the the loans loans paya payable ble in def defaul aultt at the the end end of of the the repo reporti rting ng per period iod;; and and
IFRS IFRS 7.18 7.18(b (b))
c) whet whethe herr the the defa default ult was was rem remed edie ied, d, or the terms terms of the the loan loans s paya payable ble were were rene renegot gotiat iated ed,,
IFRS IFRS 7.18 7.18(c) (c)
before the financial statements were authorised for issue.
If, during the period, there were breaches of loan agreement terms other than those
IFRS 7.19
described in paragraph 18 of IFRS 7 (see above), the entity shall disclose the same information as required by paragraph 18 if those breaches permitted the lender to demand accelerated repayment (unless the breaches were remedied, or the term s of the loan were renegotiated, on or before the end of the reporting period).
Income Statement Items of income, expense, gains or losses
12.7.14 Has the following items of income, expense, gains or losses either been disclosed either in the statement of comprehensive income or in the notes? a) net gains or net losses on:
IFRS 7.20(a)
i) financial assets or financial liabilities at fair value through profit or loss, showing separately those on financial assets or financial liabilities designated as such upon initial recognition, and those on financial assets or financial liabilities that are classified as held for trading; ii) available-for-sale financial assets, showing separately the amount of gain or loss recognised in other comprehensive income during the period and the amount reclassified from equity to profit or loss for the period; iii) held-to-maturity investments; iv) loans and receivables; and v) financial liabili ties measured at amortised cost;
b) tota totall inte intere rest st inc incom ome e and and tot total al int inte erest rest exp expen ense se (cal (calcu cula late ted d usin using g the the eff effe ectiv ctive e inte intere rest st
IFRS IFRS 7.20 7.20(b (b))
method) for financial assets or financial liabilities that are not at fair value through profit or loss;
c) fee income income and and exp expens ense e (othe (otherr than than amoun amounts ts includ included ed in deter determining mining the effect effective ive interes interestt
IFRS IFRS 7.20( 7.20(c) c)
rate) arising from:
i) financial assets or financial liabilities that are not at fair value through profit or loss; and ii) trust and other fiduciary activities that result in the holding or investing of assets on behalf of individuals, trusts, retirement benefit plans, and other institutions;
d) inter interes estt income income on on impaire impaired d finan financia ciall asset assets s accru accrued ed in acc accord ordan ance ce w with ith par paragr agraph aph AG9 AG93 3
IFRS IFRS 7.20 7.20(d) (d)
of IAS 39; and
e) the am ount of any i m pairm ent loss for each class of financial asset.
IFRS 7.20(e)
Other disclosures
Accounting policies
12.7.15 In acco accord rdan ance ce with with para paragr grap aph h 117 117 of IAS IAS 1 Pre Prese sent ntat atio ion n of of Fin Finan anci cial al Stat State ement ments s has has
IFRS IFRS 7.21 7.21
disclosure, in the summary of significant accounting policies, the measurement basis (or bases) used in preparing the financial statements and the other accounting policies used that are relevant to an understanding of the financial statements been made?
Hedge accounting
12.7.16 Has the following separately been disclosed for each type of hedge (i.e. fair value hedges, cash flow hedges, and hedges of net investments in foreign operations)?
a) a description of each type of hedge;
IFRS 7.22(a)
b) a desc descript ription ion of the financia financiall instr instrumen uments ts designa designated ted as hedging hedging instrume instruments nts and their their fair fair
IFRS IFRS 7.22( 7.22(b) b)
values at the end of the reporting period; and
c) th the nature of the risks bei ng hedged.
IFRS 7.22(c)
Page 30 of 69
NO
N/ A
DISCLOSURE MADE YES 12.7.17 For cash flow hedges, hedges, has the entity entity disclosed? a) the the pe period riods s whe when n the the c cas ash h flow flows s are are expe xpecte cted to occu occurr and and whe when n the they y are are exp expec ecte ted d to
IFRS IFRS 7.23 7.23(a (a))
affect profit or loss;
b) a desc descrip riptio tion n of any any fore forecas castt trans transac actio tion n for whic which h hedg hedge e acco account unting ing had had prev previou iously sly bee been n
IFRS IFRS 7.23 7.23(b (b))
used, but which is no longer expected to occur;
c) the the amou amount nt that that was was re recogn cognis ise ed in in oth othe er com compr pre ehens hensiv ive e inco income me duri during ng the the peri period od;;
IFR IFRS 7.2 7.23( 3(c) c)
d) the amoun amountt that that was was rec reclas lassif sifie ied d fro from m equ equity ity to profit profit or loss loss for for the perio period, d, show showing ing the the
IFRS IFRS 7.23(d 7.23(d))
amount included in each line item in the Income statement; and
e) the amount amount that was remove removed d from from equity equity during during the period period and included included in the the initial initial cost cost
IFRS IFRS 7.23( 7.23(e) e)
or other carrying amount of a non-financial asset or non-financial liability whose acquisition or incurrence was a hedged highly probable forecast transaction.
12.7.18 Has the entity disclosed separately?
a) in in fai r value hedges, gains or losses:
IFRS 7.24(a)
i) on the hedging instrument; and ii) on the hedged item attributable to the hedged risk;
b) i n cash flow hedges, the ineffectiveness recognised in profit or loss; and
IFRS 7.24(b)
c) for hedg hedges es of of net net inves investmen tments ts in foreign foreign oper operatio ations, ns, the the inef ineffec fective tivenes ness s recogn recognise ised d in profi profitt
IFRS IFRS 7.24(c 7.24(c))
or loss.
Fair value
12.6.19 Except as set out in paragraph 29 of IFRS 7 (see below), for each class of financial assets
IFRS 7.25
and financial liabilities, has the fair value of that class of assets and liabilities in been disclosed a way that permits it to be compared with its carrying amount?
12.6.20 Has the entity disclosed for each class of financial instruments the methods and, when a
IFRS 7.27(a)
valuation technique is used, the assumptions applied in determining fair values of each class of financial assets or financial liabilities?
12.6.21 If the there has has bee been n a chan change ge in valu valuat atio ion n te techni chniqu que, e, has has ttha hatt c cha hang nge e and and the the reas reason on for for
IFRS IFRS 7.27 7.27
making it been disclosed?
12.6.22 For fai r val ue ue m ea easur e em m en ents recogni se sed i n the ba la lance sheet has t he he fol lo lowi ng ng
IFRS 7.27 B
been disclosed for each class of financial instruments?
a) the lev level el in the the fair fair value value hier hierarch archy y into which which the the fair fair value value measu measureme rements nts are are cate categori gorise sed d
IFRS IFRS 7.27B( 7.27B(a) a)
in their entirety, segregating fair value measurements in accordance with the levels defined in paragraph 27A.
b) any signif significa icant nt tran transf sfer ers s betw betwee een n Leve Levell 1 and and Leve Levell 2 of the the fair fair valu value e hie hierar rarch chy y and and the the
IFRS IFRS 7.27B 7.27B(b (b))
reasons for those transfers.
Transfers into each level shall be disclosed and discussed separately from transfers out of each level. For this purpose, significance shall be judged with respect to profit or loss, and total assets or total liabilities.
c) for fair value measurement measurements s in Level 3 of the fair value hierarchy, hierarchy, a reconciliation reconciliation from the begin beginnin ning g bala balance nces s to the endin ending g balan balance ces, s, disclo disclosin sing gs sep epara arate tely ly chang changes es durin during g the the
IFRS IFRS 7.27B 7.27B(c) (c)
period attributable to the following :
i) total gains or losses for the period recognised in profit or loss, and a description of where they are presented in the income statement ii) total gains or losses recognised in other comprehensive income; iii) purchases, sales, issues and settlements (each type of movement disclosed separately); and iv) transfers into or out of Level 3 (e.g. transfers attributable to changes in the observability of market data) and the reasons for those transfers. For significant transfers, transfers into Level 3 shall be disclosed and discussed separately from transfers out of Level 3.
d) the amount of total gains or losses losses for the period in (c)(i) above above included included in profit or loss that are attributable to gains or losses relating to those assets and liabilities held at the end of the reporting period and a description of where those gains or losses are presented i n the incom e statem ent
IFRS 7.27B(d)
e) for fair value measurement measurements s in Level 3, if changing one or more of the inputs inputs to reasonably reasonably possible alternative assumptions would change fair value significantly, the entity shall state that fact and disclose the effect of those changes. The entity shall disclose how the effect of a change to a reasonably possible alternative assumption was calculated. For this purpose, significance shall be judged with respect to profit or loss, and total assets or total Page 31 of 69
NO
N/ A
DISCLOSURE MADE YES liabilities, or; when changes in fair value are recognised in other comprehensive income, total equity.
IFRS 7.27B(e)
12.6.23 Has the quantitative disclosures required by this paragraph been presented in tabular form at unl ess another form at i s m ore appropriate?
IFRS 7.27B
12.6.24 If a difference exists between the fair value at initial recognition and the amount that would
IFRS 7.28(a)
be determined at that date using a valuation technique (see note below), has the following been disclosed, by class of financial instrument?
a) its acco account unting ing polic policy y for for reco recogni gnisin sing g that that diff differ eren ence ce in prof profit it or or loss loss to to refle reflect ct a chang change e in
IFRS IFRS 7.28( 7.28(a) a)
factors (including time) that market participants would consider in setting a price (see paragraph AG76A of IAS 39); and
b) the aggre aggregat gate e diffe differe renc nce e yet yet to be be reco recogni gnise sed d in profi profitt or loss loss at the the beg beginn inning ing and and end end of of
IFRS IFRS 7.2 7.28(b 8(b))
the period together with a reconciliation of changes in the balance of this difference.
12.6.25 Disclosures of fair value are not required:
a) when the carrying amount is a reasonable reasonable approximation approximation of fair value (e.g. for financial
IFRS 7.29(a)
instruments such as short-term trade receivables and payables);
b) for an an inves investmen tmentt in equity equity instr instrumen uments ts tthat hat do not not have have a quote quoted d market market price price in an activ active e
IFRS IFRS 7.29(b 7.29(b))
market, or derivatives linked to such equity instruments, that is measured at cost because its fair value cannot be measured reliably; or
c) for for a cont contra ract ct cont contai aini ning ng a dis discr cret etio iona nary ry part partic icip ipat atio ion n fe featur ature e (as (as desc descri ribe bed d in in IFR IFRS S4
IFRS IFRS 7.29 7.29(c (c))
Insurance Contracts) if the fair value of that feature cannot be measured reliably.
12.6.27 In the cases described in paragraphs 29(b) and (c) of IFRS 7 (see above), has disclosure been made information to help users of the financial statements make their own judgements about the extent of possible differences between the carrying amount of those financial assets or financial liabilities and their fair value, including?
a) the fact fact tha thatt fair fair value value inform informat ation ion has has not not bee been n disclo disclose sed d for for thes these e inst instrum rumen ents ts bec becau ause se
IFRS IFRS 7.3 7.30(a 0(a))
their fair value cannot be measured reliably;
b) a descr descriptio iption n of the the finan financial cial instr instrumen uments, ts, thei theirr carryin carrying g amount, amount, and and an explan explanatio ation n of why why
IFRS IFRS 7.30(b 7.30(b))
fair value cannot be measured reliably;
c) i nform ation about the m arket for the instrum ents;
IFRS 7.30(c)
d) i nf nfor ma mati on on ab abou t whether a nd nd ho w t he he en titi ty ty in intends t o di sp sp os ose of t he he fi na nan c cii al al
IF FR RS 7 .3 .30( d d))
instruments; and
e) if financial instruments instruments whose fair value previously previously could not be reliably measured measured are
IFRS 7.30(e) 7.30(e)
derecognised, that fact, their carrying amount at the time of derecognition, and the amount of gain or loss recognised
Nature and extent of risks arising from financial instruments
12.6.28 Has Has the the entit ntity y dis discl clos ose ed inf infor orma mati tion on that that enabl nable es use users rs of its its fin finan anci cial al sta state teme ment nts s to to
IFRS IFRS 7.31 7.31
evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed at the end of the reporting period?
Qualitative disclosures
12.6.29 For each type of risk arising from financial instruments, has the entity shall disclosed?
a) th t he exposures to that risk and how they ari se;
IFRS 7.33(a)
b) its its obj obje ectiv ctive es, poli polici cie es and and proc proces esse ses s ffor or mana managi ging ng the the risk risk and and the the meth method ods s use used d to to
IFRS IFRS 7.33 7.33(b (b))
measure the risk; and
c) any changes in 33(a) or (b) (see above) from the previous period.
IFRS 7.33(c)
Quantitative disclosures
12.6.30 For each type of risk arising from financial instruments, has the entity disclosed?
a) summary summary quantit quantitativ ative e data data about about its its expos exposure ure to that that risk at the the end end of the the repor reporting ting peri period. od.
IFRS IFRS 7.34(a) 7.34(a)
This disclosure shall be based on the information provided internally to key management personnel personnel of the entity (as defined in IAS 24 Related Party Disclosures) (e.g. the entity‟s
BOD or CEO);
b) the disclo disclosur sures es requ require ired d by paragr paragrap aphs hs 36 36 to 42 of of IFRS IFRS 7 (se (see e bel below ow), ), tto o the the ext exten entt not not
IFRS IFRS 7.34(b 7.34(b))
provided in paragraph 34(a) (see above), unless the risk is not material; and
c) concentrations of risk if not apparent from 34(a) and (b) (see above).
IFRS 7.34(c)
Page 32 of 69
NO
N/ A
DISCLOSURE MADE YES Disclosure of concentrations of credit risk shall include:
i ) a description of how m anagem ent determ i nes concentrations;
IFRS 7.B8(a)
ii) a des descr crip ipti tion on of the the sha share red d cha chara ract cte erist ristic ics s tha thatt ide ident ntif ifie ies s eac each h con conce cent ntra rati tion on (e.g (e.g..
IFRS IFRS 7.B8 7.B8(b (b))
counterparty, geographical area, currency or market); and
d) the the amo amoun untt of of the the risk risk expos xposur ure e ass assoc ocia iate ted d wit with h all all fina financ ncia iall inst instru rume ment nts s sha shari ring ng that that
IFRS IFRS 7.B8 7.B8(c (c))
characteristic.
12.6.31 If the quantitative data disclosed as at the end of the reporting period are unrepresentative of an entity‟s exposure exposure to risk during the period, has further inform ation been provided that
i s representative?
IFRS 7.35
Credit risk
12.6.32 Has the following been disclosed by class of financial instrument?
a) the the amo amoun untt tha thatt bes bestt rep repre rese sent nts s its its max maximum imum ex exposu posure re to cred credit it ris risk k at at the the end end of of the the
IFRS IFRS 7.36 7.36(a (a))
reporting period without taking account of any collateral held or other credit enhancements (e.g. netting agreements that do not qualify for offset in accordance with IAS 32 Financial Instruments: Presentation) (see also IFRS 7.B9 and B10);
b) in resp respect ect of the the amount amount disclo disclosed sed in 36(a) 36(a) (see (see abov above), e), a desc descript ription ion of c colla ollater teral al held held as
IFRS IFRS 7.36 7.36(b) (b)
security and their credit enhancements;
c) info inform rmat atio ion n abo about ut the the cre credi ditt qua quali lity ty of fina financ ncia iall ass asse ets that that are are ne neithe itherr pas pastt due due nor nor
IFRS IFRS 7.36 7.36(c (c))
impaired; and
d) the the carr carryi ying ng amou amount nt of fina financ ncia iall ass asse ets that that woul would d oth other erwi wise se be past past due due or impai impaire red d
IFRS IFRS 7.36 7.36(d (d))
whose terms have been renegotiated.
12.6.33 For financial assets that are either past due or impaired, has the entity shall disclose by class of financial asset?
a) an anal analys ysis is of of the the age age of fina financ ncial ial asse assets ts that that are are pas pastt due due as as at the end end of the repo reporti rting ng
IFRS IFRS 7.37(a 7.37(a))
period but not impaired;
b) an analy analysis sis of finan financial cial assets assets that are individu individually ally deter determine mined d to be impaired impaired as at at the the end end
IFRS IFRS 7.37(b 7.37(b))
of the reporting period, including the factors the entity considered in determining that they are impaired; and
c) for the the amou amounts nts disclo disclose sed d in 37(a) 37(a) and (b) (see (see abov above) e),, a desc descrip riptio tion n of coll collat ater eral al held held by by
IFRS IFRS 7.37 7.37(c (c))
the entity as security and other credit enhancements and, unless impracticable, an estimate of their
12.6.34 When the entity obtains financial or non-financial assets during the period by taking possession of collateral it holds as security or calling on other credit enhancements (e.g. guarantees), and such assets meet the recognition criteria in other Standards, has the entity disclosed?
a) the nature and carrying am ount of the assets obtained; and
IFRS 7.38(a)
b) when when the the ass asse ets are are not not read readil ily y conv conve ertib rtible le int into o cash cash,, its its polic policie ies s for for disp dispos osin ing g of suc such h
IFRS IFRS 7.38 7.38(b (b))
assets or for using them in its operations.
Liquidity risk
12.6.35 Has the entity disclosed?
a) a matu maturi rity ty anal analys ysis is for for nonnon-de deri riva vati tive ve fina financ ncia iall liab liabil ilit itie ies s (in (incl clud udin ing g iss issue ued d fin finan anci cial al
IFRS IFRS 7.39 7.39(a (a))
guarantee contracts) that shows the remaining contractual maturities;
b) a maturity analysis for derivative derivative financial liabilities. The maturity analysis shall include the
IFRS 7.39(b)
remaining contractual maturities for those derivative financial liabilities for which contractual maturities are essential for an understanding of the timing of the cash flows (see paragraph B11B);
c) a description description of how it manages the liquidity risk inherent inherent in 39(a) and 39(b) (see (see above). above).
12.6.36 Has a maturi maturity ty a analy nalysis sis been been disclo disclosed sed,, of financia financiall asset assets s it holds holds for for manag managing ing liquidity liquidity
IFRS IFRS 7.B1 7.B11E 1E
risk (e.g. financial assets that are readily saleable or expected to generate cash inflows to meet cash outflows on financial liabilities), if that information in necessary to enable users of its financial statements to evaluate the nature and extent of liquidity risk?
12.6.37 Have Have othe otherr factors factors been been consi consider dered ed in in providi providing ng the the disclo disclosur sure e requir required ed in in paragr paragraph aph 39© 39© including, but are not limited to, whether the entity:
a) has committed borrowing borrowing facilities (e.g. (e.g. commercial paper paper facilities) or other other lines of credit (e.g. stand-by credit facilities) that it can access to met liquidity needs?
Page 33 of 69
IFRS IFRS 7.B11 7.B11F F
NO
N/ A
DISCLOSURE MADE YES b) holds deposits deposits at central central banks to meet meet liquidity needs? needs?
c) has very very diverse diverse funding funding sources? sources?
d) has significant concent concentrations rations of liquidity risk in either either its assets or its funding sources? sources?
e) has internal control control processes processes and contingency contingency plans for managing liquidity risk?
f) has instruments instruments that include accelerated accelerated repayment repayment terms (e.g. (e.g. on the downgrade of the entity‟s credit rating)?
g) has instruments instruments that could require require the posting posting of collateral (e.g. (e.g. margin calls for derivatives)?
h) has instruments instruments that allows the entity to choose whether whether it settles settles its financial liabilities by delivering cash (or another financial asset) or by delivering its own shares? or
i) has instruments instruments that are subject subject to master netting netting agreements? agreements?
Market risk
12.6.38 Unless the entity complies with paragraph 41 of IFRS 7 (see below), has the following been disclosed?
a) a sensit sensitivity ivity analysis analysis for each each type type of market market risk risk to which which the entity entity is expo exposed sed at the the end
IFRS IFRS 7.40 7.40(a) (a)
of the reporting period, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date;
b) the m et ethods and assum pt ptions used in preparing the sensitivity anal ys ysis; and
IFRS 7.40(b)
c) changes changes from the previous period in the methods and assumptions assumptions used, and the reasons reasons for such changes.
IFRS 7.40(c)
If the the ent entity ity pre prepa pare res s a sens sensiti itivit vity y analy analysis sis,, such such as as value value-a -at-r t-risk isk,, that that ref refle lect cts s inte interde rdepe pende ndenc ncie ies s
IFRS IFRS 7.4 7.41 1
between risk variables (e.g. interest rates and exchange rates) and uses it to manage financial risks, it may use that sensitivity analysis in place of the analysis specified in paragraph 40 of IFRS 7 (see above).
12.6.39 In the circumstances described in paragraph 41 of IFRS 7 (see above), has dislosures of:
a)
an exp explan lanat ation ion of of the the meth method od use used d in prep prepari aring ng such such a sens sensiti itivit vity y analy analysis sis,, and and of the the main main
IFRS IFRS 7.4 7.41(a 1(a))
parameters and assumptions underlying the data provided; and
b)
an explanation explanation of the objective objective of the method used and of limitations that may result in the
IFRS 7.41(b)
information not fully reflecting the fair value of the assets and liabilities involved. been made?
12.6.40 When the sensit sensitivity ivity analyse analyses s disclo disclosed sed in acco accordan rdance ce with paragra paragraphs phs 40 or or 41 of IFRS IFRS 7
IFRS IFRS 7.42 7.42
(see above) are unrepresentative of a risk inherent in a financial instrument (for example, because the year-end exposure does not reflect the exposure during the year), has disclosure of that fact and the reason it believes the sensitivity analyses are unrepresentative been made?
12.7 12.7
Fina Financ ncia iall Inst Instru rume ment ntss- Pre Prese sent ntat atio ion n
1. Liabilities and equity
Has the issuer issuer of a finan financial cial instrume instrument nt classifie classified d the the instrume instrument, nt, or its compone component nt parts, parts, on initial initial
IAS 32.15 32.15
recognition as a financial liability, a financial asset or an equity instrument in accordance with the substance of the contractual arrangement and the definitions of a financial liability, a financial asset and an equity instrument?
2. Settlement options
When a deriva derivative tive financia financiall instrumen instrumentt gives gives one party party a choic choice e over over how it is sett settled led (e.g. (e.g. the the issuer issuer
IAS 32. 32. 26
or the holder can choose settlement net in cash or by exchanging shares for cash), it is a financial asset or a financial liability unless all of the settlement alternatives would result in it being an equity instrument.
3. Compound financial instruments instruments
Has Has the the issu issue er o off a nonnon-de deri riva vati tive ve fina financ ncia iall ins instr trum ume ent evalu valuat ate ed the the term terms s of the the fina financ ncia iall
IAS IAS 32.2 32.28 8
instrument to determine whether it contains both a liability and an equity component and classified such components separately as financial liabilities, financial assets or equity instruments in accordance with paragraph 15?
4. Treasury shares (see also paragraph AG36)
If an entity reacquires its own equity instrum ents, have those instruments („treasury shares‟) been
deducted from equity?
Page 34 of 69
IAS 32.33
NO
N/ A
DISCLOSURE MADE YES
No gain or loss shall be recognised in profit or loss on the purchase, sale, issue or cancellation of
Page 35 of 69
NO
N/ A
DISCLOSURE MADE YES an entity‟s own equity instrum ents. Such treasury shares may be acquired and held by the entity
or by other members of the consolidated group. Consideration paid or received shall be recognised directly in equity.
5. Interest, dividends, losses and gains
Has interest, dividends, losses and gains relating to a financial instrument or a component that is a financial liabili ty been recognised as income or expense in profit or loss?
IAS 32.35
Have distributions to holders of an equity instrument been debited by the entity directly to equity, net of any related income tax benefit? Have transaction costs of an equity transaction been accounted for as a deduction from equity, net of any related income tax benefit?
6. Offsetting a financial asset and a financial liability
Has Has a fina financ ncia iall ass asset et and and a fina financ ncia iall lia liabi bilit lity y be been offs offse et and and the the net net amo amoun untt pre prese sent nte ed in in the the
IAS IAS 32. 32.42 42
balance sheet when, and only when, an entity: a)
curre currentl ntly y has has a lega legally lly enfo enforc rcea eable ble right right to to set set off off the the reco recogni gnise sed d amount amounts? s? and
b)
inten intends ds eith either er to to settl settle e on a net net basis basis,, or to to reali realise se the the ass asset et and and set settle tle the the liability simultaneously? simultaneously?
In accounting for a transfer of a financial asset that does not qualify for derecognition, the entity shall not offset the transferred asset and the associated liability (see IAS 39, paragraph 36). Has the Com pany discl osed for each class of financi al assets whether regular way
IFRS 7.B5©
purchases and sales of financial assets are accounted for at trade date or at settlement date
13.0 13.0
13.1 13.1
LONG LONG TERM TERM LOAN LOANS S AN AND D AD ADVA VANC NCES ES
Has the the Company Company shown shown separa separatel tely y the amounts amounts cons conside idered red good good and consid considere ered d bad or doubtf doubtful ul for the followin :
Sch IV. Part II.3(A & B)
13.1.1 loans and and advances advances to related related parties; parties; and
(i)
the name name of each each borrow borrower er toge togethe therr with the the amount amount of loans loans and and advance advances, s, the terms of loan and advance and the particulars of collateral security held, if any; and
(ii)
in case of loans loans and advances advances to directors, directors, chief chief exec executive utive and exec executives, utives, the purposes for which loans and advances were made and reconciliation of the carrying amount at the beginning and end of the period showing disbursement and repayments.
(iii)
the maximu maximum m aggregate aggregate amount amount of loans loans and adva advance nces s outstand outstanding ing at any any time since the date of incorporation or since the date of the previous balance-sheet, whichever is later. Such maximum amounts shall be calculated by reference to month end balance
13.1.2 13.1.2 For the the loans loans and adva advance nces s other other than those those to to the supp supplier liers s of goods goods or servic services es.. Has the the
Sch IV. IV. Part Part II.3(C II.3(C))
Company disclosed the name of the borrower and terms of repayment if the loan or advance is material together with the particulars of collateral security?
13.1 13.1.3 .3 Has Has prov provis isio ion, n, ifif any, any, bee been n made made for for bad bad or dou doubt btfu full loan loans s and and adva advanc nce es show shown n as a
Sch Sch IV. IV. Part Part II. II.3( 3(E) E)
deduction to 13.1.1 and 13.1.2 above?
14.0 14.0
LONG LONG-T -TER ERM M DEPO DEPOSI SITS TS AN AND D PRE PREPA PAYM YMEN ENTS TS
14.1
W hether the Com pany has separatel y disclosed all m aterial item s related to:
15.0 15.1 15.1
(i) (i)
long long-t -te erm depo deposi sits ts,, and and
(ii) (ii)
long long-t -te erm pre prepa paym yme ents. nts.
Sch IV. Part II.4
CURRENT ASSETS Has the the Company Company class classifie ified d current current asse assets ts under under sub-he sub-heads ads approp appropriat riate e to the the Company Company's 's business, including, where applicable, the following: (i)
Stores, Stores, spare spare parts parts and and loose tools distinguishin distinguishing, g, where where practicable practicable,, each each from the other;
(ii)
stock-in stock-in-tra -trade de distinguis distinguishing hing betwe between en appropria appropriate te classifica classification tions; s;
Page 36 of 69
Sch IV. Part II.5(A)
NO
N/ A
DISCLOSURE MADE YES (iii)
trade debts debts other other than loans or advances, advances, showing showing separate separately ly debts debts considered considered good good and debts considered doubtful or bad;
(iv)
loans and advance advances, s, showing showing separately separately those those considere considered d good and those those conside considered red doubtful or bad;
(v)
trade deposits deposits and short short term term prepayments prepayments and and current current account account balances balances with with statutory statutory authorities;
(vi) (vi)
inte intere rest st accr accrue ued; d;
(vii)
other receivables receivables specifying specifying separat separately ely the material items;
(viii)
financial assets, assets, other other than than as mentioned mentioned in clauses( clauses(iii) iii) to (vii) above, above, and cash cash and bank bank balances;
(ix) (ix)
(x)
tax refund refunds s due due from from the the Governme Government; nt; and
cash and and bank balance balances, s, distinguishing distinguishing betwe between en current current and and deposit deposit accounts, accounts, where applicable.
15.2 15.2
Whether Whether the followin following g particula particulars rs are disclose disclosed d for (iii), (iii), (iv) and (viii) (viii) above above
(i)
Sch IV. Part Part II.5(B) II.5(B)
The aggregate aggregate amount due due by by directors, directors, chief executive executive and exec executives utives of the Company and any of them severally or jointly with any other person; and
(ii)
aggregate aggregate amount due due by related related parties, parties, other than mentioned mentioned in 14.1(i) 14.1(i) above, above, names to be specified in each case.
Page 37 of 69
NO
N/ A
DISCLOSURE MADE YES 15.3
15.4 15.4
In respect of 15.1 (i) above, have the aggregate amount of the following been shown separately:
(i)
Inves Investme tment nt in relat related ed partie parties s
(ii) (ii)
othe otherr inve investme stment nts. s.
Wheth Whether er inves investme tments nts are shown shown unde underr tthe he head head curre current nt asse assets, ts, wher wherev ever er appli applica cable ble,, ind indica icatin ting g
Sch IV. Part II.5(C)
Sch Sch IV. IV. Part Part II.5( II.5(D) D)
separately:
15.5 15.5
a)
held held to to matu maturi rity ty inv inve estme stment nts; s;
b)
availa available ble for sale sale inves investme tment nts; s; and and
c)
at fair fair valu value e throu through gh profi profitt or or los loss s
Wheth Whether er the prov provisi ision on is is made made for diminu diminutio tion n in the the value value of or or loss loss in respe respect ct of of any any curre current nt ass asset et
Sch Sch IV. IV. Part Part II.5 II.5(E (E))
shown as a deduction from the gross amount of the respective assets?
16.0
INVENTORIES
16.1 16.1
Are Are the the follo followin wing g disc disclos losed ed in fina financ ncial ial sta state teme ments nts::-
a)
b)
the the acc accou ount ntin ing g pol polic icie ies s ado adopt pted ed in meas measur urin ing g inv inven ento tori ries es incl includ udin ing g the the cost cost formu formula la use used;
IAS IAS 2.3 2.36 6
the total total carryin carrying g amount of of inventor inventories ies and and the carryi carrying ng amount amount in classifica classification tions s appropriate to the Com pany;
IAS 2.36(b)
for example:- raw material - work-in-process - finished goods
IAS 1.75(c)
c)
the carrying am ount of inventories carried at FV less cost to sell;
IAS 2.36
d)
the am ount of inventories recognised as an expense during the peri od;
IAS 2.36
the the amo amoun untt of of any any writ write e-dow -down n of of inv inve entor ntorie ies s re recogn cognis ise ed as as an an ex expens pense e in in the the peri period od (re (refer fer
IAS IAS 2.3 2.36 6
e)
IAS 2.34) ;
f)
the amoun amountt of any rever reversal sal of any any write-d write-down own that that is recog recogniz nized ed as a reduct reduction ion in the the am ount of i nventori es recognised as expense i n the period (refer IAS 2.34);
g)
h)
16.2 16.2
IAS 2.36
the circumstance circumstances s or events events that led led to the the reversa reversall of a write write down down of inventorie inventories s (refer (refer IAS IAS 2.34); and
IAS 2.36
the carrying am ount of inventories pledged as security for l iabili ties.
IAS 2.36
Do the finan financia ciall stat statem emen ents ts disclo disclose se eith either er:: a)
the cost of inventories recognized as an expense during the period? or
IAS 2.34
b)
the the ope opera rati ting ng cos costs ts,, reco recogn gnis ised ed as an an ex expens pense e dur durin ing g the the per perio iod, d, cla class ssif ifie ied d by the their ir nat natur ure e, together with the amount of the net change in inventories for the period.
IAS IAS 2.3 2.37 7
Page 38 of 69
NO
N/ A
DISCLOSURE MADE YES PART III
PROFIT AND LOSS ACCOUNT 1.0
Has the profit and and loss account account been drawn up up as to disclose separately separately the the manufacturing, trading and operating results. In the case of manufacturing concern, has the cost of goods m anufactured also been shown?
2.0
Sch. III. 1
Whether the profit and and loss account has disclosed disclosed all material material items of income and expenses incl uding the following:-
Sch. III. 2
a)
The turno turnove verr and showin showing g as deduc deduction tion there there from trade trade disco discount unt and and sales sales tax. tax.
b)
Expen Expenses ses,, classifie classified d accordin according g to their their function function unde underr the followi following ng sub-he sub-heads ads,, along with additional information on their nature, namely:(i) Cost of sales; (ii) distribution cost; (iii) administrative expenses; (iv) other operating expenses; and (v) finance cost
c)
Othe Otherr ope operati rating ng inc income ome,, name namely ly::(i) income from financial assets; (ii) income from investments in and debts, loans, advances and receivables to each related party; and (iii) income from assets other than financial assets.
d)
Finance Finance cost cost separa separatel tely y show the the amount amount of inter interest est on on borrowin borrowings gs from from related related parties, if any.
e)
Other Other info informa rmatio tion n relati relating ng to the the follo followin wing, g, namel namely: y:-(i) debts written off as irrevocable distinguishing between trade debts, debts, loans, advances and other receivables; and (ii) provisions for doubtful or bad debts debts distinguishing between trade debts, loans advances and other receivables.
3.0
f)
The aggreg aggregate ate amoun amountt of audito auditors' rs' remun remunera eration tion,, showing showing separat separately ely fee fees, s, expenses and other remuneration for services rendered as auditors and for services rendered in any other capacity and stating the nature of such other services. In the case of joint auditors, the aforesaid information shall be shown separately for each of the joint auditors.
g)
In the the case case of donat donations ions whe where re any any directo directorr or his spouse spouse has has intere interest st in the the donee, the names of such directors, their interest in the donee and the names and address of all donees.
Has the Company Company,, as a minimum, minimum, on on the the face face of the the income income stat stateme ement nt disclo disclosed sed the following line items: a) b) c) d) e)
f) 4.0 4.0
revenue; finance costs; share of the profit or loss of associ ates and joint ventures accounted for using the equity method; ta t ax expense; a single single amount amount comprisin comprising g the total total of the post-tax post-tax profit profit or loss of disconti discontinue nued d operations and the post-tax gain or loss recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operations; prof profit it or loss loss afte afterr tax tax.
Have Have,, as as a minimu minimum, m, the the follo followi wing ng line line item items s bee been n inc inclu lude ded d on on the the face face of the the inco income me
IAS 1.81 IAS 1.81 IAS 28.38 IAS 12.77 IFRS IFRS 5.33a 5.33a
IAS IAS 1.8 1.83a 3a
statement as allocations of profit or loss for the period: a) b) 5.0
profit or loss attributable to m inority interest; and profit profit or or loss loss attrib attributab utable le to to equit equity y holde holders rs of of the the pare parent. nt.
IAS 1.83a
Has the Company presented presented additional additional line line items, items, headings headings and sub-totals sub-totals on the face of the income statement when such presentation is relevant to an understanding of the
6.0
Com pany's fi nancial perform ance?
IAS 1.85
Have Have all all items items of inco income me and and expe expens nse e reco recogn gniz ized ed in in a perio period d been been inc includ luded ed in in net net profit profit or or
IAS IAS 1.88 1.88
loss for the period unless an IAS requires or permits otherwise?
7.0
Has Has the the Comp Compan any y pres presen ente ted d the the analy analysis sis of exp expen ense ses, s, as as desc describ ribed ed abov above, e, on on the the face face of of
IAS IAS 1.99 1.99
the income statement?
8.0
Has the Company classifying expense expenses s by function function disclose disclosed d additional additional information on the nature of expenses, including the following:a) b)
9.0
depre deprecia ciatio tion n and and amorti amortiza zatio tion n exp expen ense se em ployee benefit schem e
IAS 1.104
Have items of i ncome and expense been presented separately and not offset unless a Standard or Interpretation required?
10.0 10.0
Has Has the the amount amount of divide dividend nds s rec reco o nised nised as distri distribut bution ions s to to e uit holde holders rs durin durin the the eriod eriod,, and related dividends er share been been disclosed either on the face of the income statement or the the stat stateme ement nt of of chan chan es in e uit , or in the the note notes? s?
11.0
Has the foll owi ng been disclosed:a)
IAS 1.32 IAS 1.107
IAS 18.35
the acco accounti unting ng policie policies s adopted adopted for for the reco recognit gnition ion of reven revenue ue includ including ing the the methods adopted to determine the stage of completion of transactions involving
Page 39 of 69
NO
N/ A
DISCLOSURE MADE YES the rendering of services b)
the amount amount of each each signific significant ant categ category ory of reve revenue nue recog recogniz nized ed during during the the period period including revenue arising from: i) the sale of goods? ii) the rendering of services? iii) interest? iv) royalties? v) dividends?
c)
12.0
the amoun amountt of reve revenue nue arising arising from from exchan exchange ge of of goods goods or serv service ices s include included d in each significant category of revenue.
Has the Company stated stated by by way of a note, note, the the respectiv respective e amounts included in Sch ll.2E(i) ll.2E(i)
Sch. III 3
and (ii) for the following
13.0
(i)
debts due by directors, chief executive, and executives of the Company and any of them severally or jointly with any other person; and
(ii)
debts debts due due by rela related ted parties parties (oth (other er than than in claus clause e (I) (I) above) above)
Has the Com pany stated the following by way of a note:__ (i)
Sch. III 4
The aggre aggregate gate amount amount charge charged d in the finan financial cial state statement ments s in respec respectt of the directors, chief executive and executives by the Company as fees, remuneration, allowances, commission, perquisites or benefits or in any other form or manner and for any services and shall give full particulars of such aggregate amounts separately for the directors, chief executive and executives together with the number of such directors and executives, under appropriate heads, such as:
(a) fees; (b) mana erial erial remune remuneratio ration; n; (c) commissi on or bonus, indicating the nature thereof; (d) reimbursable expenses which are in the nature of a perquisite or benefit; (e) pension, gratuities, Company's contribution to provident, superannuation and other staff funds, compensation for loss of office and in connection with retirement from office; (f) other perquisites and benefits benefits in cash or in kind stating their nature and, where practicable, their approximate money values; and (g) the amounts, if material, by which which any items shown above are affected by any change in an accounting policy. (ii)
In the case of sale sale of fixed fixed asset assets, s, if the book book value value of the the asset asset or asse assets ts exceeds in aggregate fifty thousand rupees, particulars of the assets and in aggregate: (a) (b) (c)
14.0
15.0
cost or valuation, as the case may be; the book value; and the sale price and the mode of disposal (e.g. by tender tender or negotiation) and the particulars of the purchaser.
Has the Com pa pany discl os osed separately the nature and am ou ount of item s of i nc ncom e and expense that are material? IAS 1.97 Has research research and development development expenditu expenditure re been been recognized recognized as an expense expense during the period? Has the aggregate amount been disclosed?
16.0
IAS 38.126
Has the Company Company disclosed disclosed the amount amount of exchange exchange differe differences nces recognise recognised d in profit or
IAS 21.52(a)
loss except for those arising on financial instruments measured at fair value through profit or loss in accordance with IAS 39?
17.0
17.1 17.1
GAINS AND LOSSES
Has any any gain gain or loss loss arisin arising g from a chang change e in the the fair fair value value of a finan financial cial liabili liability ty measu measured red at fair value through profit or loss that is not part of a hedging relationship been recognised in profit or loss?
17.2 17.2
IAS 39.55a
For finan financial cial liabili liabilitie ties s measure measured d at amortis amortised ed c cost ost , has has a gain gain or loss loss been been recog recognise nised d in profit or loss when the financial liability is derecognised, and through the amortisation process?
17.3 17.3
IAS 39.56
If an entit entity y recogni recognise ses s financial financial asse assets ts using using settle settlemen mentt date account accounting ing has itit been been ensured that any change in the fair value of the asset to be received during the period between the trade date and the settlement date is not recognised for assets measured at am ortised cost (other than i m pairm ent losses)?
IAS 39.57
For assets measured at fair value, however, the change in fair value shall be recognised in profit or loss or in other comprehensive income, as appropriate under paragraph IAS 39.55.
17.4 17.4
If there there is objec objective tive evide evidence nce that that an impair impairment ment loss loss on financ financial ial assets assets measu measured red at at amortised cost has been incurred, has it been ensured that the amount of the loss shall be recogni sed in profi t or loss?
IAS 39.63
Page 40 of 69
NO
N/ A
DISCLOSURE MADE YES 17.5 17.5
If, in a subse subseque quent nt period period,, the amount amount of of the impairme impairment nt loss loss decrea decrease ses s and the the decre decrease ase can be related objectively to an event occurring after the impairment was recognised (such as an improvement in the debtor‟s debtor‟s credit rating), has the previously recognised recognised impairm ent
loss been reversed with the am ount of reversal recogni sed in profi t or loss?
18.0 18.0 18.1 18.1
IAS 39.65
RELA RELATE TED D PART PARTY Y TRAN TRANSA SACT CTIO ION N Have Have relatio relationsh nships ips betwe between en a parent parent and and its subsidia subsidiarie ries s been been disclose disclosed d irrespe irrespectiv ctive e of whethe whetherr there have been been transactions between them? An entity shall disclose Has the name of the parent and, if different, different, the ultimate controlling controlling party been been disclosed? If neither the the entity‟s parent nor
the ultimate controlling party produces consolidated financial statements statements available for public use has the nam e of the next m ost seni or parent that does so been di sclosed?
18.2 18.2
IAS 24.12
Has key key manage management ment pers personn onnel el compen compensati sation on been been disclos disclosed ed in total total and and for each each of the the followin following g categories:
a)
18.3 18.3
IAS 24.16
short short-te -term rm emplo employe yee e bene benefit fits? s?
b)
post post-e -emp mplo loym yme ent ben bene efits fits? ?
c)
othe otherr lon longg-te term rm bene benefi fits ts? ?
d)
termi termina nati tion on bene benefi fits ts? ? and and
e)
shar sharee-ba base sed d paym paymen ent. t.? ?
Has the nature nature of the the relate related d party party relatio relationsh nship ip as as well well as Informati Information on about about those those transactions and outstanding balances, including commitm ents, necessary for users users to understand the potential effect of the relationship on the financial statements been disclosed?
IAS 24.17
At a minimum, have the following disclosures been included: a) b)
the amoun amountt of of the the trans transac actio tions ns? ? the amoun amountt of outsta outstandin nding g balance balances, s, includin including g commitment commitments? s? and: and: (i) their terms and conditions, including whether they are secured? and the nature of the consideration to be provided in settlement; and (ii) details of any guarantees given or received?
c) d)
18.4
Have th the ab above di di sc sclosures be been ma made separately fo for ea each of of th the fo following ca categories? a) b) c) d) e) f) g)
18.5 18.5
provision provisions s for doubtfu doubtfull debts debts related related to the amount of outstandin outstanding g balance balances? s? and the expense expense recognised recognised during during the period period in respect respect of bad or doubtful doubtful debts due from related parties? IAS 24 24.18
the parent; entitie entities s with joint joint contro controll or signific significant ant influe influence nce over over the the entit entity; y; subsidiaries; associates; joint ventur ventures es in which which the entity entity is a venture venturer; r; key manageme management nt pers personne onnell of the entity entity or its its paren parent; t; and and othe otherr rela relate ted d part partie ies. s.
Have Have items items of a similar similar nature nature been been disclo disclose sed d in aggrega aggregate te exc except ept whe when n separat separate e disclosure i s necessary for an understanding of the effects of related part y transactions on the financial statem ents of the entity?
IAS 24.22
A repo reportin rting g entit entity y is exempt exempt from the disclosu disclosure re require requirement ments s of paragrap paragraph h 18 in rela relation tion to relate related d
IAS 24.25 24.25
party transacti ons and outstanding balances, incl uding commitm ents, with: a)
a gover governmen nmentt that that has has cont control, rol, joint joint contro controll or significa significant nt influe influence nce over over the the repo reportin rting g entit entity; y; and another another entity entity that is a relate related d party party becaus because e the the same govern government ment has control, control, joint control or significa nt influence over both the reporting entity and the other entity.
b)
18.6 18.6
If a report reporting ing entity entity applie applies s the exe exemptio mption n in paragrap paragraph h 19.50, 19.50, has itit disclose disclose the follow following ing about about the transactions and rel ated outstanding balances referred to 19.50? : a) the name name of the govern governmen mentt and the nature nature of its relation relationship ship with with the reporti reporting ng entity (i.e. control, joint control or significant influence)? b) the following information i n sufficient detail to enable users of the entity‟s financial statements to understand the effect of related party transactions on its financial statements?
IAS 24.26
(i) the nature and am ount of each indivi dually signi ficant transactio n? And (ii) for other transacti ons that are co llectively, but not indivi dually, significant, a qualitative or quantitative indication of their extent? 19.0
19.1 19.1
19.2
INCOM E TAX
Has the the tax tax expe expense nse (inco (income) me) relate related d to profit profit or loss loss from from ordinary ordinary activiti activities es been been separately presented on the face of the Profit and Loss Account?
IAS 12.77
Have the m ajor com ponents of tax expense (i ncom e) been disclosed separately ?
IAS 12.79
Note : List of components of tax expense may be seen in IAS 12.80 (revised) 19.3
Has the Com pany discl osed the fol lowing separately ? a)
IAS 12.81
the amo amount unt of income income tax relatin relating g to each each componen componentt of other other comprehe comprehensiv nsive e income (see paragraph 62 and IAS 1 (as revised in 2007));
b)
an explanation explanation of the relationship relationship betwee between n tax expense expense (income) and accounting accounting Page 41 of 69
NO
N/ A
DISCLOSURE MADE YES profit in either or both of the following forms:
i) a numerical reconciliation between tax expense (income) and the product of accounting profit multiplied by the applicable tax rate(s), disclosing also the basis on which the applicable tax rate(s) is (are) computed; or
ii) a numerical reconciliation between the average effective tax rate and the applicable tax rate, disclosing also the basis on which the applicable tax rate is computed;
c)
an explanation explanation of changes changes in the applicable tax rate(s) rate(s) compared to the previous previous accounting period;
d)
the amount amount (and (and expiry expiry date, date, if any) of of deductible deductible temporary differences, differences, unused unused tax losses, and unused tax credits for which no deferred tax asset is recognized in the balance sheet;
e)
the aggregate aggregate amount of temporary temporary differences differences associated associated with investments investments in subsidiaries, branches and associates and interests in joint ventures, for which deferred tax liabilit ies have not been recognized;
f)
in respec respectt of each each type type of tempora temporary ry differe difference nce,, and in respe respect ct of each each type type of unused tax losses and unused tax credits: i) the amount of the deferred tax assets and liabiliti es recognized in the balance sheet for each period presented; ii) the amount of the deferred tax income or expense recognized in the income statement, if this is not apparent from the changes in the amounts recognized in the balance sheet; and
g)
in respect respect of discontinue discontinued d operations, operations, the tax expense expense relating to: i) the gain or or loss on discontinuance; and ii) the profit or loss from the ordinary activities of the discontinued operation for the period, together with the corresponding amounts for each prior period presented.
h)
the amo amount unt of income income tax conseq consequen uences ces of of dividends dividends to share sharehold holders ers of of the Company that were proposed or declared before the financial statements were authorized for issue, but are not recognized as liability in the financial statements.
Page 42 of 69
NO
N/ A
DISCLOSURE MADE YES i)
if a busines business s combinat combination ion in which which the the entity entity is the the acquir acquirer er cause causes s a change change in the amount recognised for its pre-acquisition deferred tax asset (see paragraph 67), the amount of that change; and**
j)
if the deferred tax benefits acquired in a business combinat ion are not recognised at the acquisition date but are recognised after the acquisition date (see paragraph 68), a description of the event or change in circumstances that caused the deferred tax benefits to be recognised.
19.4 19.4
Income Income taxe taxes s are paya payable ble at a highe higherr or lower lower rate, rate, if part part or all all of the net net profit profit or or retaine retained d earnings is paid out as a dividend to shareholders of the Company. In some other jurisdicti ons, income taxes may be refundable or payable if part or all of the net profit or retained earnings is paid out as a dividend to shareholders of the Company. In these circum stances, has the Com pany discl osed:
a)
IAS 12.52A
the nature nature of the potential potential income tax consequenc consequences es that that would would result result from from the payment of dividends to its shareholders, including the important features of the income tax systems and the facts that will affect the amount of the potential i ncom e tax consequences of dividends;
b)
IAS 12.82A
the amounts of the the potentia potentiall income tax consequenc consequences es determinable determinable without undue cost or effort; and
c)
any poten potential tial income income tax conse conseque quence nces s that cannot cannot be deter determine mined d without without undue undue cost or effort.
19.5 19.5
It may someti sometimes mes requir require e undue undue cost cost or effor effortt to compute compute the the total total amount amount of the the poten potential tial income tax consequences that would result from the payment of dividends to shareholders. In the following cases has it been possible for a Company to compute some portions of the total, for exam ple:
a)
IAS 12.87B
if in a consolid consolidate ated d group, group, a paren parentt and some some of its subsi subsidiar diaries ies (1) (1) have have paid paid income taxes at a higher rate on undistributed profits and (2) are aware of the amount that would be refunded on the payment of future dividends to shareholders from consolidated retained earnings, has the entity disclosed the refundable amount;
b)
if applicab applicable, le, has has the Company Company disclo disclose sed d that there there are addit additiona ionall potentia potentiall income tax consequences that cannot be determined without undue cost or effort; and
c)
do the parent‟s separate financial statements, if any, disclose the potential income tax consequences relating to the parent‟s retained earnings.
20
20.1 20.1
SEGM ENT RE REPORTING
Has informa information tion bee been n disclose disclosed d to enable enable users users of its finan financial cial state statement ments s to evalua evaluate te the the nature and financial effects of the business activities in which it engages and the economic environm ents in whi ch it operates?
20.2 20.2
IFRS 8.20
To give give effect effect to the the princi principle ple in paragr paragraph aph 20, 20, has has disclos disclosure ure of the the follow following ing for for each each period period for which a incom e statem ent is presented been m ade?
a)
IFRS 8.21
general in inform ation;
b)
inform informat ation ion abo about ut repor reporte ted d segme segment nt profi profitt or loss, loss, inclu includin ding g specif specifie ied d reve revenu nues es and expenses included in reported segment profit or loss, segment assets, segment liabilities and the basis of measurement, ; and
c)
reconci reconciliati liations ons of the totals totals of segmen segmentt reve revenue nues, s, reporte reported d segme segment nt profit profit or or loss, loss, segment assets, segment liabilities and other material segment items to corresponding entity amounts as described in paragraph 28. Reconciliations of the amounts in the balance sheet for reportable segments to the amounts in the entity‟s balance sheet are required for each date
at which a balance sheet is presented. Information for prior periods shall be restated
General information
20.3
Has the enti ty discl osed the following general inform ation:
a)
IFRS 8.22
factors used to identify the entity‟s reportable segments, including the basis of
organisation (for example, whether management has chosen to organise the entity around differences in products and services, geographical areas, regulatory environments, or a combination of factors and whether operating segments have been aggregated)? and
b)
types of products products and service services s from from which each reportable reportable segment segment derives derives its revenue?
Page 43 of 69
NO
N/ A
DISCLOSURE MADE YES Information about profit or loss, assets and liabilities
20.4
Has a m easure of profit or loss for each reportable segm ent been reported?
IFRS 8.23
Has a measure of total liabili ties for each reportable reportable segment been reported if such an amount is regularly provided to the chief operating decision maker?
20.5 20.5
Has the the entity entity also also disclose disclosed d the followi following ng about about each each reporta reportable ble segmen segmentt if the specifie specified d amounts are included in the measure of segment profit or loss reviewed by the chief operating decision maker, or are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss:? a)
reve revenu nues es from from exte externa rnall cust custome omers rs;;
b)
revenu revenues es from from transac transaction tions s with other other operati operating ng segmen segments ts of the same entity;
c)
inte intere rest st reve revenu nue e;
d)
inte intere rest st expens pense e;
e)
depre deprecia ciatio tion n and and amorti amortisa satio tion; n;
f)
material material items items of income income and and expen expense se disclo disclosed sed in acco accordan rdance ce with with paragr paragraph aph 97 of IAS 1 Presentation of Financial Statements (as revised in 2007);
g)
the entity‟s interest in the profit or loss of associates and joint ventures ventures accounted
for by the equity method;
20.6
h)
income income tax tax exp expen ense se or income income;; and and
i)
material material non-c non-cash ash items items other other than than depr depreci eciatio ation n and and amortisa amortisation tion..
Has interest interest revenue revenue been been reported reported separately separately from interest interest expense expense for each each reportable reportable segment unless a majority of the segment‟s revenues are from interest and the chief
operating decision maker relies primarily on net interest revenue to assess the performance of the segment and make decisions about resources to be allocated to the segment?
In that situation, has the entity reported that segment‟s interest revenue net of its interest
expense and disclosed that it has done so?
20.7
Has di sc scl os osure of the f ol ol lo lowi ng ng about each r e ep po rt rtab le le segm en ent been m ad ade, i f the speci fifi ed ed
IF FR RS 8. 24 24
amounts are included in the measure of segment assets reviewed by the chief operating decision maker or are otherwise regularly provided to the chief operating decision maker, even if not included in the measure of segment asset?
a)
b)
the amo amount unt of invest investment ment in assoc associate iates s and joint joint venture ventures s account accounted ed for by the the equity method, and the amounts of additions additions to non-current non-current assets* assets* other other than financial instruments, instruments, deferred tax assets, post-employment benefit assets (see IAS 19 Employee Benefits Benefits paragraphs 54–58) and ri ghts arising under insurance contracts.
20.8
Has it been ensured that the amount of each segment item reported shall be the measure reported to the chief operating decision maker for the purposes of making decisions about allocating resources to the segment and assessing its performance? Also that adjustments and eliminations m ade in preparing an entity‟s financial statements and
allocations of revenues, expenses, and gains or losses are included in determining reported segment segment profit or l oss only if they are included in the measure of the segment‟s segment‟s
IFRS 8.25
profit or loss that is used by the chief operating decision maker?
Similarly, has it been ensured that only those assets and liabilities that are included in the measures of the segment‟s assets and segment‟s liabilit ies that are used by the chief
operating decision maker shall be reported for that segment? If amounts are allocated to reported segment profit or loss, assets or liabilities, those amounts have been allocated on a reasonable basis?
20.9
If the chief operating decision maker uses only one measure of an operating segment‟s profit or l oss, the segment‟s assets or the segment‟s liabilities in assessing segment
performance and deciding how to allocate resources, has segment profit or loss, assets and liabi lities been reported at those m easures?
20.10 20.10
IFRS 8.26
If the chief chief operatin operating g decisio decision n maker maker uses uses more than than one one measure measure of an opera operating ting segment‟s profit or loss, t he segment‟s segment‟s assets or the segment‟s liabiliti es, has it been
ensured that the reported measures are those that management believes are determined in accordance with the measurement principles most consistent with those used in measuring the corresponding amounts in the entity‟s financial statement?
20.11 20.11
An enti entity ty sha shall ll prov provide ide an exp explan lanat ation ion of of the the meas measure uremen ments ts of of segme segment nt prof profit it or los loss, s, segment assets and segment liabilities for each reportable segment. At a minimum, has the following been disclosed?
a)
b)
IFRS 8.27
the basis basis of account accounting ing for any transa transactio ctions ns betwe between en reporta reportable ble segme segments. nts.
the nature nature of any differences differences between between the measurements measurements of of the reportable reportable segments‟ profits or losses and the entity‟s profit or loss before income tax
expense or income and discontinued operations (if not apparent from the reconciliations described in paragraph 28). Those differences could include accounting policies and policies for allocation of centrally incurred costs that are necessary for an understanding of the reported segment information.
Page 44 of 69
NO
N/ A
DISCLOSURE MADE YES c)
the nature of any any differen differences ces between between the measurements measurements of the the reporta reportable ble segments‟ assets and the entity‟s entity‟s assets (if not apparent from the reconciliations
described in paragraph 28). Those differences could include accounting policies and policies for allocation of jointly used assets that are necessary for an understanding of the reported segment information.
d)
the nature nature of any differences differences between between the measurements measurements of of the reportable reportable segments‟ liabilities and the entity‟s liabilities (if not apparent apparent from the
reconciliations described in paragraph 28). Those differences could include accounting policies and policies for allocation of jointly utilised liabilities that are necessary for an understanding of the reported segment information.
e)
the nature of any any changes changes from prior prior periods periods in the measurement measurement methods used to determine reported segment profit or loss and the effect, if any, of those changes on the measure of segment profit or loss.
f)
the nature nature and and effec effectt of any asymmetr asymmetrical ical alloca allocation tions s to reporta reportable ble segmen segments. ts. For For example, an entity might allocate depreciation expense to a segment without allocating the related depreciable assets to that segment.
Reconciliations
20.12
Have reconciliations of all of the following been provided?
a)
the total of the reportable segments‟ revenues to the entity‟s revenue.
b)
the total of the reportable segments‟ measures measures of profit or loss to the entity‟s profit or loss before tax expense (tax income) and discontinued operations.
IFRS 8.28
However, if an entity allocates to reportable segments items such as tax expense (tax income), has the entity opted to reconcile the total of the segments‟ measures of profit or loss to the entity‟s profit or loss after those items.
c)
the total of the reportable segments‟ assets to the entity‟s assets.
d)
the total of the reportable segments‟ liabilities to the entity‟s li abilities if segment
liabilities are reported in accordance with paragraph IFRS.23.
e)
the total of the reportable segments‟ amounts for every other material item of
information disclosed to the corresponding amount for the entity.
Restatement of previously reported information
20.13 20.13
If an entity entity change changes s the struct structure ure of its its internal internal organi organisat sation ion in a manner manner that cause causes s the composition of its reportable segments to change, has the corresponding information for earlier periods, including interim periods, been restated unless the information is not available and the cost to develop it would be excessive?
IFRS 8.29
Has the determination of whether the information is not available and the cost to develop it would be excessive shall be made for each individual item of disclosure?
Following a change in the composition of its reportable segments, has the entity disclosed whether it has restated the corresponding items of segment information for earlier period?
20.14 20.14
If an entity entity has has changed changed the the structu structure re of its inter internal nal organis organisatio ation n in a manner manner that cause causes s the composition of its reportable segments to change and if segment information for earlier periods, including interim periods, is not restated to reflect the change, has the entity disclosed in the year in which the change occurs segment information for the current period on both the old basis and the new basis of segmentation, unless the necessary inform ation i s not avail able and the cost to develop it would be excessive?
IFRS 8.30
Entity-wide disclosures
20.15
Has the the entity entity reported reported the reve revenues nues from externa externall customers customers for for each each product product and and service, service, or each group of similar products and services, unless the necessary information is not available and the cost to develop it would be excessive, in which case has that fact been disclosed?
IFRS 8.32
Information about geographical areas
20.16
Has the enti ty reported the following geographical inform ation, unless the necessary
IFRS 8.33
information is not available and the cost to develop it would be excessive?
a)
revenues revenues from external customers (i) attributed to the entity‟s country of domicil e
and (ii) attributed to all foreign countries in total from which the entity derives revenues. If revenues from external customers attributed to an individual foreign country are material, have those revenues revenues been been disclosed separately?
20.17
Has the entity disclosed the basis for attributi ng revenues from ex external custom ers to
IFRS 8.33
individual countries?
non-current assets* other than financial instruments, deferred tax assets, Page 45 of 69
NO
N/ A
DISCLOSURE MADE YES post-employment benefit assets, and rights arising under insurance contracts (i) located in the entity‟s country of domicile and (ii) located in all foreign countries in
total in which the entity holds assets. If assets in an individual foreign country are material, have those assets been disclosed separately?
20.18
Have the amounts reported reported been based on the financial information that is used used to produce the entity‟s financial statements? If the necessary information is not available and the cost
to develop it would be excessive, has that fact been disclosed?
An entity may provide, in addition to the information required by this paragraph, subtotals of geographical information about groups of countries. Information about major customers
20.19
Has inform at ation been provided about the extent of i ts ts reliance on its m aj ajor custom er ers?
a)
If revenue revenues s from transactions transactions with with a single single external external customer customer amount to 10 per cent or more of an entity‟s revenues, has the entity disclosed that fact, the total amount of
revenues from each such customer, and the identity of the segment or segments reporting the revenues?
(b)
The entity entity need need not disclose the identity identity of a major customer customer or the amount of revenues revenues that each segment reports from that customer.
For the purpose of this IFRS, a group of entities known by the reporting entity to be under common control, shall be considered a single customer. Judgment is required to assess whether agovernment government (including government agencies and similar bodies whether local,national or international) and entities known to the reporting entity to be underthe the control of that government are consider
Page 46 of 69
IFRS 8.34
NO
N/ A
DISCLOSURE MADE YES 21.0
21.1 21.1
EXTRAORDINARY ITEM S
Has the the Compan Company y ensur ensured ed that that it has has not pres present ented ed any any item item of income income and and expen expense se as as extraordinary item s either on the face of the profit or loss or in the notes?
22.0
22.1 22.1
IAS 1.87
EARNINGS PER SHARE
If the Company Company disclo discloses ses earni earnings ngs per per share, share, has has the earni earnings ngs per per share share been been disclo disclose sed d in accordance with IAS 33?
22.2 22.2
IAS 33.3
Has a Company Company that prese presents nts both both cons consolida olidated ted financia financiall stateme statements nts and and separa separate te financial statements prepared in accordance with IAS 27, presented the disclosures required by IAS 33 only on the basis of the consolidated inform ati on?
22.3 22.3
IAS 33.4
Where Where a compan company y choose chooses s to disclose disclose earning earnings s per per share share base based d on its its sepa separate rate financia financiall statements, has it presented such earnings per share information only on the face of its separate SOCI and not in the consolidated financial statem ents?
22.4 22.4
IAS 33.4
If the the number number of of ordinar ordinary y or poten potential tial ordin ordinary ary share shares s outstan outstanding ding incre increase ases s as a result result of of a capitalisation, bonus issue or share split, or decreases as a result of a reverse share split (even if these changes occur after the bal ance sheet date but before the financial statements are authorised for issue), and therefore the calculation of basic and diluted earnings per share for all periods presented has been adjusted retrospectively, has the fact
22.5
tha t per sh share ca cal cu cul at ati on ons re ref le lect su such ch ch an anges in in th the nu num be ber of of sh shares be been di di sc scl os osed?
I AS AS 33 33. 64 64
Has the Com pany presented, on the face of the SOCI for each class of ordi nary shares
IAS 33.66
that has a different right to share in profit for the period, basic and diluted earnings per share for the:
22.6 22.6
a)
profit profit or or loss loss from from conti continu nuing ing ope opera ratio tions ns;;
b)
prof profit it or or loss loss for for the the peri period od;;
Has the the Compan Company y disclos disclosed ed basic basic and and dilute diluted d earnin earning g for each each class class of of ordinar ordinary y shares shares per share with equal prominence for all periods presented on the face of the Profit and Loss Account?
22.7 22.7
IAS 33.66
If an entit entity y presen presents ts the compone components nts of profi profitt or loss in in a separat separate e income income state statemen mentt as described in paragraph 81 of IAS 1, it presents basic and diluted earnings per share in that separate statem ent or i n the notes.
22.8 22.8
IAS 33.67A*
If the Company Company report reports s a disconti discontinuin nuing g operati operation, on, has has the basic basic and and diluted diluted earni earnings ngs per per share for this line item been disclosed either on the face of the income statement or in the notes to the financi al statem ents?
22.9 22.9
IAS 33.68
If an entit entity y presen presents ts compon component ents s of profit profit or or loss in in a separa separate te income income stateme statement nt as described in paragraph 81 of IAS 1, it presents basic and diluted earnings per share for the discontinued operation, as required in paragraph 68, in that separate statement or in the notes.
22.10
22.11
IAS 33.68A*
Has the the Company Company prese presented nted basic and and diluted diluted earnings earnings per per share, share, even if the amounts are negative (i.e. a loss per share)?
IAS 33.69
Has the following been disclosed:
IAS 33.70
a)
the amo amounts unts used used as as the numera numerator tors s in calculatin calculating g basic and and diluted diluted earni earnings ngs per per share, and a reconciliation of those amounts to the net profit or loss for the period (including the individual effect of each class of instruments that affects earnings per share);
b)
the weig weighte hted d average average numbe numberr of ordinary ordinary share shares s used used as the denomin denominator ator in calculating basic and diluted earnings per share, and a reconciliation of these denominators to each other (including the individual effect of each class of instruments that affects earnings per share);
c)
instrume instruments nts (includi (including ng continge contingently ntly issuab issuable le shares) shares) that that could could potentia potentially lly dilute dilute basic earnings per share in the future, but were not included in the calculation of diluted earnings per share because they are anti-dilutive for the period(s) presented; and
d)
a descrip description tion of ordin ordinary ary share share trans transacti actions ons or or potentia potentiall ordinary ordinary share share transactions, other than as a result of capitalisation, bonus issues or share splits or decreases as a result of a reverse share splits, that occur after the balance sheet date but before the financial statements are authorised for issue that would have changed significantly the number of ordinary shares or potential ordinary shares outstanding at the end of the period if those transactions had occurred before the end of the reporting period.
22.12 22.12
Has the the Company Company disclos disclosed ed the the terms terms and conditio conditions ns of financia financiall instrument instruments s and other other contracts generating potential ordinary shares that affect the measurement of basic and
Page 47 of 69
NO
N/ A
DISCLOSURE MADE YES diluted earnings per share, if this disclosure is not already otherwise required (see IAS 32 and, if appli cable, IFRS 7).
22.13 22.13
IAS 33.72
If the Compa Company ny disclose disclosed, d, in addition addition to basic basic and dilute diluted d earnings earnings per per share, share, amounts amounts per per share using a reported component of the income statement other than one required by IAS 33:
a)
IAS 33.73
have basic basic and dilute diluted d amounts amounts per per share share relati relating ng to such such a compone component nt been been disclosed with equal prominence and presented in the notes to the financial statements; and
b)
has the the basis basis been been indicated indicated on on which the the numerato numerator(s) r(s) is (are) (are) deter determine mined, d, including whether amounts per share are before tax or after tax.
22.14 22.14
If the Compa Company ny disclose discloses, s, in addition addition to basic basic and dilute diluted d earning earnings s per share share,, amounts amounts per share using a component that is not reported as a line item in the income statement, has a reconciliation been provided between the component used and a line item that is reported in the incom e statem ent?
22.15 22.15
IAS 33.73
Have Have the discl disclosur osures es cover covered ed in 24.11 24.11 and 24.12 24.12 been been made made by a company company that that disclose discloses, s, in addition to basic and diluted earnings per share, amounts per share using a reported component of the separate income statement (IAS1, Para 81) other than one required by thi s standard?
IAS 33.73A
Page 48 of 69
NO
N/ A
DISCLOSURE MADE YES PART IV
1.0
2.0
CASH FLOW STATEMENT
Does Does the cash cash flow stateme statement nt report report cash cash flows flows during during the the period period class classifie ified d by opera operating ting,, investin investing g and financing activities?
IAS 7.10
Does the Com pany report cash flows from operating activities using either:
IAS 7.18
a)
the direct direct method, whereby whereby major classes classes of of gross gross cash receipts receipts and and gross cash payments are disclosed? or
b)
the indirect indirect method, method, where whereby by net profit or loss is adjuste adjusted d for the effects effects of transactions transactions of non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments, and items of income or expense associated with investing or financing cash flows
3.0
Has the Company Company repo reporte rted d separa separatel tely y major major classe classes s of gross gross cash cash recei receipts pts and gross gross cash payments arising from investing and financing activities, except to the extent that cash flows are reported on a net basis in accordance with IAS 7.22 and 7.24?
4.0
IAS 7.21
Has the Company Company deci decided ded to report report cash cash flows flows from from the following following operati operating, ng, inve investin sting g or finan financing cing acti vities on a net basis:
a)
IAS 7.22
cash receip receipts ts and payments on behalf behalf of customers customers when when the cash flows flows reflect reflect the activities of the customers rather than those of the Company; and
b)
cash receip receipts ts and payments for items items in which which the turnover turnover is quick, quick, the the amounts amounts are are large, and the maturities are short?
5.0
Has the cash flows arising from each of the following activities reported on a net basis: IAS 7.24
6.0
7.0
7A
7B. 7B.
a)
cash receipts and payments for the acceptance and repayment of deposits with a fixed maturity date;
b)
the placement of deposits with and withdrawal of deposits from other financial institutions; and
c)
cash advances and loans made to customers and the repayment of those advances and loans.
Has the cash flows arising from transactions in a foreign currency recorded in an Company‟s functional currency by applying to the foreign currency amount the exchange rate between the functional currency and the foreign currency at the date of the cash flow?
Has the cash flows of a foreign subsidiary translated at the exchange rates between the functional currency and the foreign currency at the dates of the cash flows? Has the cash flow statement disclosed separately, cash flows from operating, investing and financing activities, the effect of exchange rate changes on cash and cash equivalents held or due in foreign currency. This amount includes the difference, if any, had those cash flows been reported at the end of period exchange rates?
IAS 7.26
IAS 7.28
Have Have tthe he foll follow owing ing bee been n categ categori orize zed d as oper operati ating ng activ activiti ities es? ? cash payments to manufacture or acquire assets held for rental to others and subsequently held for sale as described in paragraph 68A of IAS 16 Property, Plant and Equipment. Also, The cash receipts from rents and subsequent sales of such assets*
8.0
IAS 7.25
IAS 7.14
Are cash cash flows flows from from interes interestt and divid dividend ends s receiv received ed and and paid disclose disclosed d separa separatel tely. y. Are Are they they classified in a consistent manner from period to period as either operating, investing or financing activities?
9.0
IAS 7.31
Are cash cash flows flows arisin arising g from from taxes taxes on income income separat separately ely disclose disclosed d and and classif classified ied as cash cash flows flows from operating activities unless they can be specifically identified with financing and investing
10.0 10.0
acti vities?
IAS 7.35
Whe When tax tax cash cash flow flows s are are allo alloca cate ted d ove overr mor more e than than one one clas class s of of act activ ivit ity, y, has has tthe he tota totall amo amoun untt of of
IAS IAS 7.3 7.36 6
taxes paid been disclosed?
11.0 11.0
Has it been been ensure ensured d that only those those expen expenditu ditures res that that result result in a recogni recognise sed d asset asset in the statem en ent of financial positi on on are eligible for cl as assification as investing acti vi vities?
12.0 12.0
** * *
Are aggreg aggregate ate cash cash flows flows arising arising from from obtainin obtaining g and losing losing cont control rol of subsi subsidiar diaries ies or or other other businesses presented separately and classified as i nvesting activiti es?**
13.0 13.0
IAS 7.16
IAS 7.39
Are the the followi following ng details details disclo disclose sed d in aggreg aggregate ate,, in respe respect ct of both both acquisit acquisitions ions and and dispos disposal al of subsidiari es or other business units during the period, each of the following:
i)
IAS 7.40
the total purchase purchase or disposal disposal consideration consideration net of cash and cash equivalents equivalents acquired acquired or disposed of of as as pa part of of s su uch tr transactions, ev events or or ch changes in in ci circum st stances?**
(ii)
the amount amount of cash and cash cash equivalen equivalents ts in the subsidiary or businesse businesses s over over which control is obtained or lost?**
(iii)
the amount amount of the the assets assets and and liabilities liabilities other other than cash cash or cash equivalen equivalents ts in the subsidiary or businesses over which control is obtained or lost, summarized by each major category?** Page 49 of 69
IAS 7.42
NO
N/ A
DISCLOSURE MADE YES
13A 13A
Are Are the the cash cash flow flows s ari arisi sing ng from from chan change ges s in in own owne ershi rship p int inte erest rests s in in a sub subsi sidi diar ary y tha thatt do do not not re es su ltlt i n a l os oss of contr o oll b e cl as assi fifi ed ed a s cash fl ow ows fr o om m f in inanci ng ng act iv ivi titi es es?* *
14.0 14.0
I AS AS 7.42 A
Are inve investin sting g and financ financing ing transac transaction tions s that do do not requir require e the use use of cash cash or cash cash equiv equivale alents nts excluded from a cash flow statement? Are such transactions disclosed elsewhere in the financial statements in a way that provides all the relevant information about these investing and financing acti vities?
15.0 15.0
IAS 7.43
Is disclosu disclosure re made of of the compone components nts of cash cash and cash cash equival equivalent ents s and reconc reconciliat iliation ion prese presente nted d the amounts in cash flow statement with the equivalent items reported in the balance sheet? IAS 7.45
16.0 16.0
Has the the Company Company disclo disclose sed d the policy policy adopt adopted ed in deter determinin mining g the compos compositio ition n of cash cash and cash cash equivalents?
17.0
IAS 7.46
Is disclosure made, together with a commentary by management, of the amount of significant cash and cash equivalent balances held by the Company that are not available for use by the Group?
18.0
Has the Com pany di sclosed the following inform ati on:
a)
IAS 7.48
IAS 7.50
the amo amount unt of indrawn indrawn borro borrowing wing facilit facilities ies that that may be availab available le for futur future e operati operating ng activities and to settle capital commitments, indicating any restrictions on the use of these facilities.
b)
the aggreg aggregate ate amounts amounts of of the cash flows flows from from each each of operating, operating, investing investing and and financing financing activities related to interests in joint ventures reported using proportionate consolidation;
c)
the aggreg aggregate ate amount amount of cash flows that that represe represent nt increase increases s in operatin operating g capacity capacity separately from those cash flows that are required to maintain operating capacity;
d)
cash flows flows of each each repor reported ted indus industry try and geog geograph raphical ical segme segment nt arising arising from: from:
– operating activities; – investing activities; and – financing activities.
19.0 19.0
Has the the Company Company presen presented ted informa information tion that that enable enables s users users of the finan financial cial state statemen ments ts to evalua evaluate te the financial effects of discontinued operations and disposals of non-current assets (or disposal groups) by disclosing the net cash flows attributable to the operating, investing and financing activities of discontinued operations either in the notes or on the face of the financial statements? (These disclosures are not required for disposal groups that are newly acquired subsidiaries classified as held for sale on acquisi tion)
IFRS 5.33c
Page 50 of 69
NO
N/ A
DISCLOSURE MADE YES PART V
1.0
INTERIM FINANCIAL STATEMENTS (IFS)
Has the Company Company presen presented ted,, as a minimum, minimum, the the following following in respe respect ct of of interi interim m financia financiall statem ents:
1.1
a)
cond conde ense nsed bal balan ance ce she sheet
b)
conde condense nsed d prof profit it and and loss loss acco account unt
c)
conde condense nsed d state statemen mentt of chang changes es in in equit equity y
d)
conde condense nsed dc cas ash h flow flow state statemen ments ts
e)
sele select cted ed ex explan planat ator ory y note notes s
IAS 34.8
If an entity entity pres present ents s the compone components nts of of profit profit and and loss loss in a separ separate ate income income state statement ment as described in paragraph 81 of IAS 1, has it presented interim condensed information from that separate statem ent?
2.0
IAS 34.8A*
Has the the Compan Company y presen presented ted basic basic and dilute diluted d earning earnings s per per share share on on the face of the income income statem ent, com plete or condensed, for an i nterim period?
2.1
IAS 34.11
If an entity entity pres present ents s the compone components nts of of profit profit and and loss loss in a separ separate ate income income state statement ment as described in paragraph 81 of IAS 1, has it presented basic and diluted earnings per share in that separate statem ent?
IAS 34.11A*
Page 51 of 69
NO
N/ A
DISCLOSURE MADE YES 3.0
If the the Company Company publishe publishes s conde condense nsed d financ financial ial stat stateme ements nts,, have have they they includ included: ed:
a)
each of the headings headings and subtotals that were were included included in its most recent recent annual financial statem ents;
b)
c)
IAS 34.10
selec selected ted explan explanator atory y notes notes as as requir required ed by by IAS 34; and and
additional line items or notes notes whose omission would would make make the the conden condensed sed interim financial statements misleading.
4.0 4.0
Are Are the the acco accoun unti ting ng pol polic icie ies s use used for for th the e pre prepa para rati tion on of int inte erim rim fina financ ncia iall stat state ement ments s cons consis iste tent nt wit with h
IAS IAS 34. 34.16 16
most recent financial statement and the Company has included a statement to that effect in the financial statem ents?
IAS 34.16(a)
5.0
If the the answ answer er to (4) is "NO" "NO" has the the desc descrip riptio tion n of of the the natur nature e and and effe effect ct of chan change ge been been disclo disclose sed? d?
IAS IAS 34. 34.16( 16(a) a)
6.0 6.0
Has Has the the explan planat atio ion n abou aboutt the the seas season onal alit ity y or cycl cyclic ical alit ity y of inte interi rim m ope opera rati tion on bee been disc disclo lose sed? d?
IAS IAS 34.1 34.16( 6(b) b)
7.0 7.0
Has Has tthe he disc disclo losu sure re of any any unu unusu sual al tran transa sact ctio ion n be been made made due due to thei theirr siz size, e, natu nature re or inci incide denc nce e?
IAS IAS 34. 34.16 16(c (c))
8.0
Is there there any change change in in estimat estimate e for for curren currentt or prior prior year year having having a material material impact impact on on financ financial ial statem ents?
9.0 9.0
IAS 34.16(d)
Has Has the the dis discl clos osur ure e of of the the fol follo lowi wing ng bee been n made made::
a)
Issuance, repurchases, and repaym ents of debt and equity securiti es?
IAS 34.16(e)
b)
Divide Dividend nds s paid paid (aggr (aggreg egat ate e or per per sha share re)) sep separa arate tely ly for for ordi ordina nary ry share shares s and and other other share shares? s?
IAS IAS 34. 34.16( 16(f) f)
c)
Segment Segment revenue revenue and segment segment result result for business business segments segments or geographical geographical segment segments, s, whichever i s the Com pany's prim ary basis of segm ent reporti ng?
d)
IAS 34.16(g)
Material Material events events subseque subsequent nt to the the end end of the the interim interim period that have have not been been reflected reflected in the financial statem ents for the interim period?
e)
IAS 34.16(h)
The effect effect of changes changes in the the composition composition of the Company during the interim interim period, period, including business combinations, obtaining or losing control of subsidiaries** and long-term i nvestm ents restructuring and disconti nuing operations?
f)
IAS 34.16(i)
Changes Changes in contingent contingent liabilities liabilities or contingen contingentt assets assets since the last annual annual balance balance sheet sheet date?
10.0
IAS 34.16(j)
In addition to the i nform ation requi red above on a financial year-to-date basis,
IAS 34.16
has the Com pany also disclosed any events or transactions that are m aterial to an
IAS 34.17
understanding of the current interim period such as: a)
b)
the write-dow write-down n of inventories inventories to net realisable realisable value value and the reve reversal rsal of such such a write-do write-down; wn;
recogni recognition tion of a loss loss from the impairme impairment nt of propert property, y, plant, plant, and equipme equipment, nt, intangi intangible ble assets, or other assets, and the reversal of such an impairment loss;
c)
the reve reversal rsal of of any provi provision sions s for the the c cost osts s of restr restructu ucturing ring;;
d)
acquisiti acquisitions ons and and disposa disposals ls of items items of proper property, ty, plant, plant, and and equipme equipment; nt;
e)
commitment commitments s for the the purch purchase ase of prope property, rty, plant, plant, and and equipme equipment; nt;
f)
liti litiga gati tion on s se ettle ttleme ment nts; s;
g)
corre correct ction ions s of of prio priorr per period iod erro errors; rs;
h)
any loan default default or breach breach of a loan agreement agreement that has not been been remedied remedied on or before before the the balance sheet date; and
i) 11.0
rela relate ted d par party ty tran transa sact ctio ions ns..
Has disclosure of compliance with IAS 34 been made. Has the Company also ensured that it has not disclosed compliance with Standards unless it complies with all of the requirements of "IFRS's"? IAS 34.19
12.0 12.0
Has the the Company Company inclu include ded d in its interi interim m financial financial report reports s (conden (condensed sed or or complete) complete) the the follow following ing statem ents:
a)
IAS 34.20
Balance sheet
– as of the end end of the current current interim period; and – a comparative balance sheet as as of the end of the immediately preceding preceding financial
year;
b)
Prof Profit it and and Loss Loss acco accoun untt
– for the current current interim period;
Page 52 of 69
NO
N/ A
DISCLOSURE MADE YES – a comparative income statement statement for the same current current interim period of the
immediately preceding financial year; – cumulatively for the current financial year year to date; and – a comparative income statement statement for the same year year to date current current interim
period of the immediately preceding financial year;
c)
stat stateme ement nt of chang changes es in equit equity: y:
– cumulatively for the current financial year year to date; and – a comparative statement statement for the comparable year-to-date year-to-date period period of the
immediately preceding financial year; and
d)
cash cash flow flow stat state ement ment
– cumulatively for the current financial year year to date; and – a comparative statement statement for the comparable year-to-date year-to-date period period of the
immediately preceding financial year.
13.0
IAS 34.21
If the Company‟s business is highly seasonal, seasonal, does it di sclose:
– financial information for the twelve months ending ending on the interim reporting date – comparative information for the prior twelve-month twelve-month period.
14.0
If an estimate of an amount reported in an interim period is changed significantly during the final interim period of the financial year but a separate financial report is not published for that final interim period, has the nature and amount of that change in estimate been disclosed in a note to the annual financial statem ents for that financial year?
IAS 34.26
Page 53 of 69
NO
N/ A
DISCLOSURE MADE YES PART VI VI
1.0 1.0
NON-CURRENT ASSETS HELD FOR FOR SALE AND DISCONTINUED DISCONTINUED OPERATIONS OPERATIONS
Has Has the the Comp Compan any y pre prese sent nt info inform rmat atio ion n tha thatt ena enabl ble es use users rs of the the fin finan anci cial al stat state ement ments s to to eva evalu luat ate e
IFRS IFRS 5.30 5.30
the financial effects of discontinued operations and disposals of non-current assets (or disposal groups) by disclosing the following information: other than that in Part III, 3 e above:
a)
an analysis of the single am ount in (a) into:
IFRS 5.33b
– the revenue, revenue, expen expenses ses and pre-tax pre-tax profit or loss of discontinued operations; operations; – the related related income tax expense expense;; – the gain or loss recognised recognised on the the measurement measurement to fair value less costs to sell sell
or on the disposal of the assets or disposal group(s) constituting the discontinued operation; and – the related related income tax expense expense;; and
This analysis is not required for disposal groups that are newly acquired subsidiaries that meet the criteria to be classified as held for sale on acquisition (refer IFRS 5.11)
b)
the amo amount unt of income income from from continuing continuing opera operation tions s and from from discontin discontinued ued opera operation tions s attributable to owners of the parent. These disclosures may be presented either in the notes or in the income statement.
2.0
IFRS 5.33d
Has the the Compan Company y re-pre re-prese sente nted d the disclosu disclosures res in IFRS IFRS 5.33 5.33 above above for prior prior period periods s presen presented ted in the financial statements so that the disclosures relate to all operations that have been discontinued by the balance sheet date for the latest period presented?
3.0
IFRS 5.34
Has the Company Company class classifie ified d separ separate ately ly in disco discontin ntinued ued operati operations ons and and disclo disclosed sed the nature nature of of amount of adjustments that are made in the current period to IFRS 5.33 previously presented in discontinued operations that are directly related to the previously discontinued operation in a prior period?
4.0
IFRS 5.35
Has the Company Company disclose disclosed d the the follow following ing informati information on in the notes notes in the period period in which which a non- cu cur re rent a s ss set ((o or d dii sp sp os osal gr group ) ha s been ei ei th ther cl cl as assi fifi ed ed as h he el d for sa sal e or so sol d: d:
a) b)
IF FR RS 5. 41 41
a descr descriptio iption n of the the non-c non-curre urrent nt asset asset (or dispo disposal sal group group); ); a description description of the facts and circumstance circumstances s of the sale, sale, or leading leading to the expecte expected d disposal, and the expected manner and timing of that disposal;
c)
the gain gain or loss recognised recognised in accordance accordance with with 5.20 - 5.22 and, and, if not not separately separately presented presented on the face of the income statement, the caption in the income statement that includes that gain or loss; and
d)
if applicable, applicable, the the segmen segmentt in which which the non-current non-current asset asset (or disposal disposal group) group) is presented presented in accordance with. IFRS 8.
5.0
Where Where a Compan Company y cease ceases s to class classify ify the the asse assett (or disposa disposall group) group) as held held for sale (refer (refer to IFRS IFRS 5.26 & 29) has the Company disclosed the following information in the period of the decision to change the plan to sell the non-current asset (or disposal group):
a)
b)
IFRS 5.42
a descrip description tion of the the facts facts and and circumst circumstance ances s leading leading to the the decisio decision; n; and
the effect effect of the decision decision on the results results of operations operations for for the period and any prior periods periods presented.
6.0
If an entit entity y presen presents ts the the compone components nts of of profit profit or loss loss in a sepa separate rate income income stateme statement nt as desc describe ribed d in paragraph 81 of IAS 1 (as revised in 2007), has a section identified as relating to discontinued operations been presented in that separate statem ent?
7.0
IFRS 5.33A*
Has an entit entity y that that is committ committed ed to to a sale sale plan plan involv involving ing loss loss of control control of of a subsid subsidiary iary disclose disclosed d the information required in paragraphs 33–36 when when the subsidiary is a disposal group that m eets the
definition of a discontinued operation in accordance wi th paragraph 32?
7A
7B
IFRS 5.36A**
Has a non-c non-curre urrent nt asset asset classifi classified ed as as held held for sale sale and and the the asse assets ts of a dispo disposal sal group group class classifie ified d as held for sale been presented separately from other assets in the balance sheet?
IFRS 5.38*
Have Have the the liab liabil ilit itie ies s of of a disp dispos osal al grou group p cla class ssif ifie ied d as as he held for for sal sale e been been pre present sented ed sepa separa rate tely ly from from
IFRS IFRS 5.38 5.38**
other liabilities in the balance sheet?
7C
has has itit been been ensu ensure red d that that thos those e asse assets ts and and liabi liabili liti tie es sha shall ll not not be be offs offset et and and pre present sented ed as a sing single le
IFRS IFRS 5.38 5.38**
amount?
8.0
Has it been ensured that discl os osures in other IFRSs are not applied to non current assets (or disposal groups) unless those IFRSs require:
a)
specific disclosures disclosures in respect respect of non-current non-current assets assets (or disposal disposal groups) groups) classified classified as held for sale or discontinued operations? or
b)
disclosures disclosures about measureme measurement nt of assets assets and liabilities liabilities within a disposal disposal group that are not within the scope of the measurement requirement of IFRS 5 and such disclosures are not already provided in the other notes to the financial statements? Page 54 of 69
IFRS 5.5B
NO
N/ A
DISCLOSURE MADE YES
Has it been ensured that where necessary, additional disclosures about non-current assets (or disposal groups) classified as held for sale or discontinued operations to com ply with the general requirements of IAS 1, i n particul ar paragraph s 15 and 125 of that Standard?
Page 55 of 69
NO
N/ A
DISCLOSURE MADE YES PART PART VII VII SHARESHARE-BAS BASED ED PAYME PAYMENT NT 1.0
Has the Company Company disclose disclosed d informat information ion that that enable enables s users users of the the financia financiall stateme statements nts to unde unders rstan tand d the the natur nature e and and ext exten entt of share share-b -bas ased ed payme payment nt arrang arrangem emen entt in in exist existen ence ce during during the the
IFRS IFRS 2.44 2.44
period by disclosing at least the following item s:
IFRS 2.45
a)
a description description of each each type type of share-based share-based payment arrangement arrangement including including the the gene general ral terms and conditions of each arrangement such as: – vesting requirements; requirements; – the maximum term of options granted; and and – the method of of settlement (e.g. (e.g. whether whether in cash or equity);
b)
the number number and weighted weighted average average exerc exercise ise prices prices of share options for each each of the the following following groups of options: – outstanding at the beginning of of the period; – granted during during the period; period; – forfeited during during the period; – exercised exercised during the period; period; – expired expired during the period; period; – outstanding at the end of the period; and – exercisable exercisable at the end end of the period. period.
c)
for share share options options exercise exercised d during the the period, period, the weighted weighted average average share share price or or where where options were exercised on a regular basis throughout the period, the Company may instead disclose the weighted average share price during the period; and
d)
for shar share e option options s outstan outstanding ding at the the end end of of the period: period: – the range of exercise exercise prices; and – the weighted weighted average average remaining contractual contractual life.
2.0 2.0
If the the Comp Compan any yh has as meas measur ure ed the the fair fair valu value e of good goods so orr serv servic ice es re receiv ceive ed as cons consid ide erati ration on for for
IFRS IFRS 2.46 2.46
eq ui ui ty ty in instr u um m en en ts ts of th the Com pa pan y i nd ndi re rectl y, y, by by reference to th the fai r va lu lue of t he he equ itity
IF FR RS 2. 47 47
instruments granted, has the Company disclosed information that enables users of the financial statements to understand how the fair value of the equity equity instruments granted during the period was determined by disclosing at least the following items: a)
for share share options options granted granted during during the period, the weighte weighted d average average fair fair value of those those options options at the measurement date and information on how that fair value was measured , including: – the option pricing model used; used; – the inputs to that model, model, including the weighted weighted average average share price, exercise exercise
price, expected volatility, option life, expected dividends, the risk free interest rate and any other inputs to the model, including the method used and assumptions made to i ncorporate the effects of expected early exercise; and – how expecte expected d volatility was determined, including an explanation explanation of
the extent to which expected volatility was based on historical volatility; and – whether whether and, how any any other features features of the option option grant were incorporated
into the measurement of fair value, such as market condition; b)
for other other equity equity instrument instruments s granted granted during during the the period period (i.e. (i.e. other other than share options): options): – the number of those those equity equity instruments at the measurement measurement date; – the weighted weighted average average fair value of those those equity equity instruments at the measurement measurement
date; and – information on how the fair value was measured measured including how the fair value
was determined where it was not measured on the basis of an observable market price, whether and how expected dividends were incorporated an d whether and how any other features of the equity instruments granted were incorporated; c)
for shareshare-base based d payment payment arrange arrangemen ments ts that were were modified modified during during the peri period: od: – an explanation explanation of those modifications; – the incremental incremental fair value granted (as a result result of those modifications); and – information on how the incremental incremental fair value granted granted was measured, measured,
consistently with the requirements set out in a. and b. above, where applicable. 3.0
If the the Compan Company y has measu measured red dire directly ctly the the fair fair value value of of goods goods or serv service ices s receiv received ed during during the the perio period, d, has the Company disclosed information that enables users of the financial statements to unders understand tand how the fair value value of the the goods goods and and servic services es rece receive ived d during during the period period was was dete determine rmined d
IFRS IFRS 2.48 2.48
(e.g. whether fair value was measured at a market price for those goods or services)? 4.0
In circums circumstanc tances es where where the equit equity-se y-settle ttled d shareshare-bas based ed payme payment nt transa transactio ctions ns involve involves s parties parties othe otherr than than empl employ oyee ees, s, whe where the the Comp Compan any y de determi termine nes s tha thatt the the fair fair valu value e of of the the good goods s and and serv servic ices es
IFRS IFRS 2.49 2.49
received cannot be estimated reliably, has the Company:
5.0
a)
disc disclo lose sed d that that fact fact;; and and
b)
given given an expl explanat anation ion of why the the pres presumpti umption on was was rebutte rebutted. d.
Has the Company Company disclose disclosed d informat information ion that that enable enables s users users of the the financia financiall stateme statements nts to understand understand the effect of share-based payment transactions on the Company‟s profit or loss for the
period and on its financial position, by disclosing the following: Page 56 of 69
IFRS 2.50
NO
N/ A
DISCLOSURE MADE YES a)
the total total expense expense recognised recognised for for the period (relating (relating to share-bas share-based ed payment payment transactio transactions ns in which the goods or services received did not qualify for recognition as assets and hence were recognised immediately as an expense) , including separate disclosure of that portion of the total expense that arises from transactions accounted for as equity-settled share based paym ent transactions; and
b)
IFRS 2.51
for liabilit liabilities ies arisin arising g from share share-bas -based ed payme payment nt transa transactio ctions: ns:
– the total carrying amount at the end of the period; and – the total intrinsic value at the end end of the period period of liabiliti es for which the counterparty‟s right to cash or other assets had vested by the end of the period
(e.g. vested share appreciation rights). 6.0
Has the Company Company disclo disclose sed d such such addition additional al informat information ion as as neces necessar sary y in order order to satisf satisfy y the IFRS IFRS 2.44, 2.46 and 2.50
7.0
IFRS 2.52
For share share-bas -based ed payme payment nt transa transactio ctions ns among among group group entit entities ies,, in its sepa separate rate or individua individuall financial statements, has the entity receiving the goods or services measured the goods or services received as either an equity-settled or a cash-settled share-based payment transaction by assessing:
IFRS 2.43A****
a)
the natur nature e of of the the awa awards rds grant granted ed? ? and and
b)
its its own own righ rights ts a and nd obl oblig igat atio ions ns? ?
The amount recognised by the entity receiving the goods or services services may differ from the amount recognised by the consol idated group or by another g roup entity settling the share-based payment transaction.
8.0
Have Have the goods goods or servic services es been been measure measured d by by tthe he recipie recipient nt entity entity as having having been been rece receive ived d received as an equity-settled share-based paym ent transacti on when:
a)
the awards awards grante granted d are its own own equit equity y instru instrument ments, s, or or
b)
the entit entity y has no obligat obligation ion to settle settle the the share share-bas -based ed paymen paymentt transact transaction. ion.
IFRS 2.43B****
In all other circumstances, have the goods or services received been been measured by the recipient as a cash-settled share-based payment transaction?
9.0
Has the entity entity sett settling ling a shareshare-base based d payment payment transac transaction tion,, when when anoth another er entit entity y in the the group group receives the goods or services, recognised th e transacti on as an equity-settled share-based IFRS 2.43C****
payment transaction only if it is settled in the entity‟s own equity instruments?
Otherwise, has the transaction been recogni sed as a cash-settled share-based payment transaction?
10.0 10.0
Some group group transa transactio ctions ns involve involve repay repayment ment arran arrangeme gements nts that that require require one one group group entity entity to pay another group entity for the pr ovision of the share-based payments to th e suppliers of goods or services.
In such cases, has the recipient entity of goods or services accounted
for the share-based payment transaction in accordance with 8.0 regardless of intra-group repayment arrangements?
IFRS 2.43D****
Page 57 of 69
NO
N/ A
DISCLOSURE MADE YES PART PART VIII VIII AGRICU AGRICULTU LTURE RE
1.0
Has the Company Company disclo disclose sed d the aggrega aggregate te gain gain or or loss loss arising arising during during the the curre current nt period period on on initial initial recognition of biological assets and agricultural produce and from the change in fair value less
2.0
3.0
estim ated point-of-sale costs of biologi cal assets?
IAS 41.40
Is a description of each group of biological assets disclosed by the Com pany?
IAS 41.41
Has the Company Company provide provided d a quan quantifie tified d descr descriptio iption n of each each group group of biolog biological ical assets assets,, distinguishing between consumable and bearer biological assets or between mature and immature
4.0 4.0
biol ogical assets?
IAS 41.43
If not not disc disclo lose sed d else elsewh whe ere in info inform rmat atio ion n publ publis ishe hed d with with the the fina financ ncia iall stat statem eme ents, nts, do the the fina financ ncia iall
IAS IAS 41.4 41.46 6
statements include:
a)
the natur nature e of its activ activitie ities s involvin involving g each each group group of biologic biological al assets assets;; and
b)
non-fina non-financia nciall measure measures s or estimat estimates es of the the physic physical al quantit quantities ies of: of:
– each group group of the Company‟s Company‟s biological assets at the end end of the period; period; – output of agricultural produce during the period. period.
5.0
Has the Company Company disclose disclosed d the the follow following ing informati information on in in its its finan financial cial stateme statements nts::
a)
the methods and significant significant assumptions applied in determining determining the fair value value of each each group group of agric agricult ultura urall prod produce uce at the point point of harv harves estt and and each each group group of biolog biologica icall asse assets; ts;
b)
IAS IAS 41.4 41.47 7
the fair fair value less estimated estimated point-of-sale point-of-sale costs of agricultural agricultural produce produce harvested harvested during the the period, determ ined at the poi nt of harvest;
IAS 41.48
c)
t he he exi st stence and carr yi yi ng ng a mo mounts of b io iol og og ic ical assets who s se e t ititl e i s restri ct cted ;
d)
the carrying am am ounts of bi biological as assets p plledged as security for liliabil ities;
IAS 41.49(a)
the amount of commitments for the development development or acquisition of biological
IAS 41.49(b) 41.49(b)
e)
IAS 41.49 a
assets;
f)
g)
financi al risk m anagem ent strategies related to agricultural activi ty; and
IAS 41.49(c)
a reconciliation reconciliation of changes changes in the carrying amount of biological biological assets assets between between the the beginning and the end of the current period that includes at least:
IAS 41.50
– the gain or loss arising from changes changes in fair value less estimated point of-
sale costs; – increases due due to purchases; purchases; – decreases decreases due to sales and biological assets assets classified as held for sale in
accordance with IFRS 5; – decreases decreases due to harvest; – increases resulting resulting from business combinations; – net exchange exchange differences differences arising on the translation of financial
statements into a different presentation currency, and on translation of a foreign entity into the presentation currency of the reporting entity; – other changes. changes.
6.0
Has the Company Company disclo disclose sed, d, by group group or othe otherwis rwise, e, the the amoun amountt of chan change ge in fair value value less less estimated point-of-sale costs included in net profit or loss due to physical changes and due to price changes?
7.0
IAS 41.51
Disclosure when fair value cannot be measured reliably
If the Company measures biological assets at their cost less any accumulated depreciation and any accumulated impairment losses at the end of the period (because fair value cannot be measured reliably, see IAS 41.30 for additional guidance), has the following information been disclosed for such biological assets:
IAS 41.54
a)
a desc descrip riptio tion n of the biolog biologica icall asse assets ts;;
b)
an explan explanatio ation n of why why fair fair value value canno cannott be measur measured ed reliabl reliably; y;
c)
if possible possible,, the rang range e of estimat estimates es within within which which fair fair value value is highly highly like likely ly to lie; lie;
d)
the depre deprecia ciatio tion n metho method d used used;;
e)
the useful useful lives lives or the the depre depreciat ciation ion rates rates used; used; and and
f)
the gross gross carryi carrying ng amount amount and the the accumula accumulated ted depr deprec eciatio iation n (aggrega (aggregated ted with with accumulated impairment losses) at the beginning and end of the period.
8.0
If, dur in ing the cur re rent p er er io iod, the Com pa pany m ea easu re res bi ol ol og ogi ca cal asset s at thei r cost l es ess a ny ny accumulated depreciation and any accumulated impairment losses, has the Company disclosed:
Page 58 of 69
I AS AS 41. 55 55
NO
N/ A
DISCLOSURE MADE YES a) b)
any gai n or loss recognised on disposal of such biological assets;
IAS 41.50
a separate separate reconciliation reconciliation of changes changes in the carrying amount of such such biological biological assets assets between the beginning and the end of the current period that includes at least (comparative information is not required):
– increases due due to purchases; purchases; – decreases decreases due to sales and biological assets assets classified as held for sale in
accordance with IFRS 5; – decreases decreases due to harvest; – increases resulting resulting from business combinations; – net exchange exchange difference differences s arising on the translation of financial statements statements
into a different presentation currency, and on translation of a foreign Company into the presentation currency of the reporting Company ; – impairment losses included in net profit profit or loss; – reversals of impairment losses included included in net profit or loss; – depreciation depreciation included in net net profit or loss; and – other changes. changes.
9.0
If the the fair fair value value of biolog biological ical assets assets previ previous ously ly measur measured ed at at their their cost cost less less any any accumul accumulate ated d depreciation and any accumulated impairment losses becomes reliably measurable during the current period, has the Com pany di sclosed:
10.0 10.0
a)
a desc descrip riptio tion n of the biolog biologica icall asse assets ts;;
b)
an explan explanatio ation n of why fair fair value value has has become become reliabl reliably y measurab measurable; le; and and
c)
the the eff ffe ect of the the chan change ge..
IAS 41.56
Has Has the the Com Compa pany ny dis discl clos ose ed the the fol follo lowi wing ng inf infor orma mati tion on rel relat ate ed to agr agric icul ultu tura rall acti activi vity ty cov cove ered red by IAS IAS 41:
a)
the nature nature and exte extent nt of government government grants grants recognised recognised in the financial statements; statements;
b)
any unfulfilled unfulfilled conditions conditions and other contingencies contingencies attaching to govern government ment grants;
c)
significa significant nt decre decrease ases s expec expected ted in the the level level of govern government ment grants grants..
Page 59 of 69
IAS IAS 41.5 41.57 7
NO
N/ A
DISCLOSURE MADE YES PART IX
BANKS AND SIMILAR FINANCIAL INSTITUTIONS
PART PART X
CONS CONSTR TRUC UCTI TION ON CONT CONTRA RACT CTOR ORS S
1.0
2.0
Has the Com pany discl osed:
IAS 11.39
a)
the amo amount unt of contra contract ct reven revenue ue recogn recognise ised d as reven revenue ue in the perio period; d;
b)
the methods used to determine determine the contract contract revenue revenue recognised recognised in the the period;
c)
the methods used to deter determine mine the the stage stage of completion completion of contracts contracts in progress progress..
Has th th e Com pa pa ny ny di di sc scl os osed th the fo fol lo lowi ng ng fo for co contr a ac cts in in pr pr o og gr e es ss at at th th e b al al an ance sh sheet da dat e: e:
a)
IAS 11 11.40
the aggreg aggregate ate amount amount of costs incurred incurred and recognised recognised profits (less recognised recognised losses) losses) to date;
3.0
b)
the amoun amountt of adv advan ance ces s rece receive ived; d; and and
c)
the the amou amount nt of rete retent ntio ions ns..
Has the the Compan Company y presen presented ted the follow following ing amounts amounts in respe respect ct of cons construc truction tion contr contracts acts separat separately ely in the balance sheet (unless clearly im m aterial):
a)
the gross gross amount amount due due from from customer customers s for cont contract ract work work as as an asset asset;; and
b)
the gross gross amount amount due due to cust customer omers s for contr contract act work work as as a liability liability..
IAS 11.42
Page 60 of 69
NO
N/ A
DISCLOSURE MADE YES PART PART XI XI
1.0
EXTRAC EXTRACTIV TIVE E INDU INDUSTR STRIES IES
Has the the Compan Company y classif classified ied exp explora loration tion and and evalua evaluation tion asse assets ts as tangi tangible ble or or intangib intangible le accord according ing to the nature of the assets acquired and apply the classifi cation consistency?
2.0
IFRS 6.15
Has the Company Company stopp stopped ed class classifyin ifying g explor exploratio ation n and evalua evaluation tion assets assets as such such when when the tech technic nical al fea feasib sibilit ility y and and comme commerc rcial ial viabil viability ity of extra extracti cting ng a miner mineral al res resou ource rce are are demo demons nstra trable ble? ?
3.0
Has the Company Company presen presented ted and disclose disclosed d any any impairme impairment nt loss loss rela relating ting to expl explorat oration ion and and evaluati on assets in accordance with IAS 36?
4.0
IFRS IFRS 6.17 6.17
IFRS 6.18
Has the the Compan Company y deter determine mined d an accoun accounting ting policy policy for alloca allocating ting exp explora loration tion and and evalua evaluation tion asse assets ts to cash-generating units or groups of cash-generating units for the purpose of assessing such assets for impairment. Each cash-generating unit not larger than an operating segment is determ ined i n accordance with IFRS 8 Operating Segm ents?
5.0
IFRS 6.21
Has the Company Company disclo disclose sed d the following following informati information on that that identif identifies ies and expl explains ains the amounts amounts reco recogn gnis ise ed in its its ffin inan anci cial al sta state teme ment nts s aris arisin ing g from from the the exp explo lora rati tion on for for and and eva evalu luat atio ion n of min miner eral al resources:
a)
IFRS IFRS 6.23 6.23 IFRS 6.24
its accounting accounting policies for explorat exploration ion and evaluation evaluation expe expenditure nditures s including including the recognition recognition of exploration and evaluation assets;
6.0 6.0
b)
the amounts of assets, assets, liabilities, income and expe expense nse and operatin operating g and investing; investing;
c)
cash flows flows arising arising from from the expl explorat oration ion for and and evaluat evaluation ion of mineral mineral resou resource rces. s.
Has Has the the Comp Compan any y tre treate ated explor plorat atio ion n and and evalu valuat atio ion n asse assets ts as a sepa separa rate te clas class s of asse assets ts and and made the disclosures required by either IAS 16 or IAS 38 consistent with how the assets are classified?
Page 61 of 69
IFRS IFRS 6.25 6.25
NO
N/ A
DISCLOSURE MADE YES PART XII LEASE LEASE DISCLO DISCLOSURES SURES BY LESSOR LESSORS S
1.0
Has the Com pany presented assets h he eld un under a finance lease in the balance sheet as a
IAS 17.36
receivable at an amount equal to the net investment in the lease?
Finance leases
2.0 2.0
Has Has tthe he foll follow owin ing g inf infor orma mati tion on bee been dis discl clos ose ed by by tthe he Compa ompany ny for for fin finan ance ce leas lease es (in (in addi additi tion on to
IAS IAS 17. 17.47 47
meeting the requirements of IFRS 7):
a)
a reconciliation reconciliation betwe between en the gross investme investment nt in the lease at the balance sheet sheet date, date, and the present value of minimum lease payments receivable at the balance sheet date;
b)
the gross gross investme investment nt in the lease and the the present present value of minimum lease lease payments receivable at the balance sheet date, for each of the following periods:
– not later than one one year; – later than one year and not not later than five years; years; – later than five years; years;
3.0 3.0
c)
une unearne arned d fina financ nce e inco income me;;
d)
the un-gua un-guarant rantee eed d residua residuall values values accruing accruing to the the benefi benefitt of the lesso lessor; r;
e)
the accumulated accumulated allowance allowance for uncollec uncollectible tible minimum lease lease payments receivable; receivable;
f)
continge contingent nt rent rents s recog recognise nised d as income income in the period; period; and
g)
a general description of the lessor‟s m aterial leasing arrangements.
Has Has the the Comp Compan any y dis discl clos ose ed the the gros gross s inv inve estme stment nt less less une unearne arned d inc incom ome e in in ne new bus busin ine ess adde added d during the period, after deducting the relevant am ounts for cancelled leases?
IAS IAS 17. 17.48 48 (not m andatory)
Operating leases
4.0
Has the the Compan Company y presen presented ted assets assets subje subject ct to oper operatin ating g leases leases in the balance balance sheet sheet acco accordin rding g to the nature of the asset?
5.0
IAS 17.49
Has the following following informati information on bee been n disclos disclosed ed by by the Company Company for ope operati rating ng lease leases s (in addition addition to m eeti ng the requirem ents of IFRS 7) :
a)
IAS 17.56
the future minimum lease payments payments under under non-cancelable non-cancelable operating operating leases leases in the aggregate and for each of the following periods:
– not later than one one year; – later than one year and not not later than five years; years; – later than five years; years;
b)
total total continge contingent nt rents rents reco recognis gnised ed as as income income in the the period period;; and
c)
a general description of the lessor‟s l easing arrangements. arrangements.
Page 62 of 69
NO
N/ A
DISCLOSURE MADE YES PART XIII REPORTING REPORTING BY BY RETIREMENT RETIREMENT BENEFIT BENEFIT PLANS PLANS 1.0
2.0
Has the Company disclosed the following information in the financial statements relating to a retirement benefit plan, whether defined benefit or defined contribution:
a)
a stateme statement nt of chang changes es in net net asse assets ts availab available le for for benefi benefits; ts;
b)
a summar summary y of signif significa icant nt acco account unting ing poli policie cies; s; and and
c)
a description description of the plan and the effect effect of any changes changes in the plan during during the period.
IAS 26.34
Has the the follow following ing been been includ included ed in the the financ financial ial state statement ments s provide provided d by the the retire retirement ment benefi benefitt plans: plans:
a)
a statem ent of net assets avai lable for benefits disclosing:
IAS 26.35
IAS 26.13
– assets at the end of the period suitably classified; – the basis of valuation of assets; assets; – details of any single investment investment exceeding exceeding either either 5% of the net net assets
available for benefits or 5% of any class or type of security; – details of any investment investment in the employer; and – liabilities other than the actuarial actuarial present value of promised retirement
benefits;
b)
a statem en ent of c ch hanges in in ne net as assets available for b be enefits showing the following:
IAS 26.35
– employer contributions; – employee contributions; – investment income such as interest interest and dividends; dividends; – other income; – benefits benefits paid or payable (analysed, (analysed, for example, as retirement, retirement, death and and
disability benefits, and lump sum payments); – administrative expenses; expenses; – other expen expenses; ses; – taxes on on income; – profits and losses on disposal disposal of investments and changes changes in value of
investments; and – transfers from and to other other plans;
c)
a description of the fundi ng policy;
IAS 26.35
d)
the ac actuarial pr present va val ue ue of of pr prom is ised re retirem en ent be benefits (w (which ma may di disti ng nguish
IAS 26 26.35
between vested benefits benefits and n on-vested benefits) based on the benefits prom ised under the terms of the plan, on service rendered rendered to date, and which uses either current salary levels or projected salary levels;
3.0
e)
a description of significant actuarial assum ptions m ade;
IAS 26.35
f)
the method used to calculate the actuarial present present value of promised retirement retirement benefits; benefits;
IAS 26.35
g)
a description of the plan and either as part of the financial statements or in a separate report, and has the following also been included:
IAS 26.36
i)
the names names of the employe employers rs and and the the employe employee e group groups s cover covered; ed;
ii)
the the numbe numberr of part partici icipa pants nts rece receivi iving ng ben benef efits its;;
iii) iii)
the the numb number er of of othe otherr part partic icip ipan ants ts;;
iv)
the type of plan – defined contribution or defined benefit;
v)
a note note as tto o whet whether her participa participants nts contrib contribute ute to the the plan; plan;
vi)
a descri descriptio ption n of the the retire retirement ment b bene enefits fits promis promised ed to to participa participants nts;;
vii) vii)
a desc descrip riptio tion n of any any plan plan termin terminati ation on terms terms;; and
viii)
change changes s in items items i. to vii. during during the the period period cove covered red by by the repo report. rt.
When plan investme investments nts are held held for for which which an estima estimate te of fair fair value value is not not possi possible ble,, has has the reason reason that fair value is not used, been disclosed?
4.0
IAS 26.32
Has the following additional information been included in the report of the defined contribution plan:
IAS 26.16 (Suggestive not mandatory ) mandatory )
a)
a description description of significant significant activities activities for the period and the the effect effect of any changes changes relating relating to the plan, and its membership and terms and conditions;
b)
statements statements reportin reporting g on the the transactio transactions ns and investment investment performance performance for the period and the financial position of the plan at the end of the period;
c) 5.0
a desc descrip riptio tion n of the the inv inves estme tment nt polic policie ies. s.
Has the fund disclosed the basis used – using either current salary levels or projected salary l evels
IAS 26.18
– to calculate the actuarial actuarial present value of promised retirement benefits? benefits? Have the effects effects of any
change in actuarial assumptions that have had a significant effect on the actuarial present value of promised retirement benefits been disclosed? 6.0
Has either of the following been disclosed in the financial statements of a defined benefit plan:
a)
as sta tate teme ment nt that that show shows: s:
Page 63 of 69
IAS 26.17
NO
N /A
DISCLOSURE MADE YES i) ii)
the the ne net asse assets ts ava avail ilab able le for for be benefi nefits ts;; the actuar actuarial ial presen presentt value of of promised promised retire retirement ment benef benefits, its, disting distinguish uishing ing betwe between en vested benefits and non-vested benefits; and
iii) iii) b)
the resu resulti lting ng exce excess ss or defic deficit; it; or
a stateme statement nt of net net assets assets availa available ble for for benef benefits its includ including ing eithe either: r: i)
a note note disclos disclosing ing the the actuaria actuariall presen presentt value value of promise promised d retire retirement ment bene benefits fits,, distinguishing between vested benefits and non-vested benefits; or
ii)
a refer referenc ence e to this informati information on in an accomp accompanyi anying ng actua actuarial rial repo report. rt.
If an actuarial valuation has not been prepared at the date of the report, has the date of the val uation used been disclosed?
IAS 26.17
7.0
Has account account explain explained ed the relatio relationshi nship p betwee between n the actuaria actuariall presen presentt value value of promised promised retirement benefits and the net net assets available for benefits, and the policy for the funding of promised benefits.
IAS 26.19 26.19
8.0 8.0
Has Has tthe he foll follow owin ing g addi additi tion onal al info inform rmat atio ion n be been incl includ ude ed in in the the repo report rt of the the defi define ned d be benefi nefitt plan plan::
IAS IAS 26.2 26.22 2 (Suggestive not mandatory)
a)
a description description of significant significant activities activities for the period and the effect effect of any changes changes relating to the plan, and its membership and terms and conditions;
b)
statements statements reporting reporting on the the transaction transactions s and investment investment performance performance for the the period period and the financial position of the plan at the end of the period;
c)
actuarial actuarial informat information ion either either as part part of the state statement ments s or by way of a separat separate e report; report; and and
d)
a desc descrip riptio tion n of the the inve investm stmen entt polic policie ies. s.
Page 64 of 69
NO
N/A
DISCLOSURE MADE YES PART PART XIV XIV
BUSI BUSINE NESS SS COMBI COMBINA NATI TION ONS S
Acquisitions 1.0
Has the acquirer disclosed information refer, IFRS 3.67 – 71 below that enables users users of i ts
fina financ ncia iall sta state teme ment nts s to evalu valuat ate e the the natu nature re and and fina financ ncia iall comb combin inat atio ions ns that that were were effe ffecte cted:
2.0 2.0
a)
during during the the curr curren entt repo reporti rting ng per period iod;; and and
b)
after the balance balance sheet sheet date but before before the the financial financial statements statements were authorised authorised for issue. issue.
Has Has the the Comp Compan any y dis discl clos ose ed the the fol follo lowi wing ng info informa rmati tion on for for eac each h busi busine ness ss comb combin inat atio ion n that that occ occur urs s during the reporting period: the name name and and a des descr cript iption ion of of the the acqu acquire iree. e.
b)
the the acq acqui uisi siti tion on date date..
c)
the perce percentag ntage e of voting voting equit equity y intere interests sts acqu acquire ired. d.
d)
the primary primary reasons reasons for the business business combination combination and and a descrip description tion of how the the acquirer acquirer obtained control of the acquiree.
e)
a qualitative qualitative description description of the factors that make make up the goodwill recognised, recognised, such as as expected synergies from combining operations of the acquiree and the acquirer, intangible assets that do not qualify for separate recognition or other factors.
the acquisition-date acquisition-date fair value value of the the total total consider consideration ation transferred transferred and the the acquisition-date acquisition-date fair value of each major class of consideration, such as: i) ii)
cash; other other tangible tangible or intang intangible ible asse assets, ts, includ including ing a busine business ss or subs subsidiar idiary y of the the acquirer;
iii) iv)
liabilitie liabilities s incurred incurred,, for example example,, a liability liability for conting contingent ent c consi onside deratio ration; n; and equity equity interes interests ts of the acqu acquire irer, r, including including the the number number of instrume instruments nts or intere interests sts issued or issuable and the method of determining the fair value of those instruments or interests.
g)
for conting contingen entt considera consideration tion arrange arrangement ments s and indemnific indemnificatio ation n assets: assets: i) ii)
the amoun amountt reco recogn gnise ised d as of the the acqui acquisit sition ion date date;; a descri descriptio ption n of the the arrang arrangeme ement nt and and the basis basis for dete determinin rmining g the amount amount of the the payment; and
iii)
an estimat estimate e of the the range range of outco outcomes mes (undis (undiscou counte nted) d) or, if a range range canno cannott be estimated, that fact and the reasons why a range cannot be estimated. If the maximum amount of the payment is unlimited, the acquirer shall disclose that fact.
h)
for for acq acqui uire red d rec rece eivab ivable les: s: i)
the the fai fairr val value ue of the the re receiv ceivab able les; s;
ii)
the gros gross s cont contrac ractu tual al amoun amounts ts rec recei eiva vable ble;; and and
iii)
the bes bestt estimate estimate at the acquisit acquisition ion date date of the the contrac contractual tual cash cash flows flows not not expected to be collected. The disclosures shall be provided by major class of receivable, such as loans, direct finance leases and any other class of receivables.
i)
the amo amounts unts reco recognis gnised ed as of the the acquisit acquisition ion date date for each each major major class of of assets assets acquire acquired d and liabilities assumed.
j)
for each contingent liabi lity recognised in accorda nce with paragraph 23, the inform ation required in paragraph 85 of IAS 37 Provisions, Contingent Liabilities and Contingent Assets. If a contingent liability is not recognised because its fair value cannot be measured reliably, the acquirer shall disclose:
k)
l)
i)
the inform informat ation ion req requir uired ed by by parag paragra raph ph 86 86 of IAS IAS 37; 37; and and
ii)
the reason reasons s why why tthe he liability liability cannot cannot be measure measured d reliabl reliably. y.
IFRS IFRS 3.60 3.60 and and IFRS 3.B64
a)
f)
IFRS IFRS 3.59 3.59
the total total amount amount of goodwill that is expecte expected d to be be deductible deductible for tax purposes. purposes.
for transa transactio ctions ns that are are recog recognise nised d separat separately ely from from the acquis acquisition ition of asse assets ts and assumption of liabilities in the business combination in accordance with paragraph 51: i)
a de descri script ptio ion n of of eac each h tra trans nsac acti tion on;;
ii)
how the the acq acquir uirer er acc accou ount nted ed for for eac each h trans transac actio tion; n;
iii)
the amoun amounts ts recog recognise nised d for each each trans transacti action on and the the line line item item in the financ financial ial statements in which each amount is recognised; and
iv)
if the transaction transaction is the effective effective settlement settlement of of a pre-existing pre-existing relationship, relationship, the method used to determine the settlement amount.
Page 65 of 69
NO
N/ A
DISCLOSURE MADE YES m)
the disclosure disclosure of separate separately ly recognise recognised d transactions transactions required required by (l) shall include the amount of acquisition-related costs and, separately, the amount of those costs recognised as an expense and the line item or items in the income statement in which those expenses are recognised. The amount of any issue costs not recognised as an expense and how they were recognised shall al so be disclosed.
n)
o)
in a bargain purchase (see paragraphs 34–36):
i)
the amount amount of any gain recogni recognised sed in accor accordanc dance e with with paragr paragraph aph 34 34 and the line item in the income statement in which the gain is recognised; and
ii)
a descri descriptio ption n of the the reas reasons ons why the transac transaction tion resulte resulted d in a gain. gain.
for each each business business combination in which the acquire acquirerr holds less than 100 100 per per cent cent of the equity interests in the acquiree at the acquisition date: i)
the amoun amountt of the the non-co non-contro ntrolling lling inte interes restt in the the acquir acquiree ee reco recognis gnised ed at at the acquisition date and the measurement basis for that amount; and
ii)
for each each non-c non-cont ontrolli rolling ng intere interest st in an acquire acquiree e measur measured ed at at fair value value,, the valuation techniques and key model inputs used for determining that value.
p)
in a busin busines ess s combin combinat ation ion ach achie ieve ved d in stag stages es:: i)
the acqu acquisiti isition-d on-date ate fair value value of the the equity equity inte interes restt in the the acquir acquiree ee held held by by the acquirer immediately before the acquisition date; and
ii)
the amoun amountt of any any gain or loss loss recog recognise nised d as a result result of of re-mea re-measuri suring ng to fair fair value value the equity interest in the acquiree held by the acquirer before the business combination (see paragraph 42) and the line item in the statement of comprehensive income in which that gain or loss is recognised.
q)
the the foll follow owin ing g inf infor ormat matio ion: n: i)
the amoun amounts ts of reve revenue nue and profi profitt or loss loss of the the acquir acquiree ee since since the the acquis acquisition ition date included in the consolidated income statement for the reporting period; and
ii)
the reve revenue nue and and profit profit or loss loss of the the combine combined d entity entity for the the curre current nt report reporting ing period as though the acquisition date for all business combinations that occurred during the year had been as of the beginning of the annual reporting period. If disclosure of any of the information required by this subparagraph is impracticable, the acquirer shall disclose that fact and explain why the disclosure is im practicable. This IFRS uses uses the term „impracticable‟ with the same meaning
as in IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Business combinations after balance sheet date
3.0
For bu business co com bi binations ef effected af after th the bal an ance sheet da date, bu but be before the financial
IFRS 3.B66
statements are authorised for issue [refer IFRS 3.59(b)], has the following been disclosed:
a)
b)
informati information on requ require ired d by IFRS IFRS 3.B64 3.B64 noted noted above above.; .; and and
if it is impractica impracticable ble to disclo disclose se any of of this informat information, ion, has has this fact fact been been disclose disclosed d together with an explanation as to why this is the case.
Business combinations – adjustments
4.0 4.0
Has Has the the Comp Compan any y dis discl clos ose ed the the fol follo lowi wing ng info informa rmati tion on for for eac each h mate materi rial al bus busin ines ess s com combi bina nati tion on or in in
IFRS IFRS 3.61 3.61
the the agg aggre rega gate te for for indi indivi vidu dual ally ly immat immater eria iall busi busine ness ss comb combin inat atio ions ns that that are are mat mate erial rial coll colle ectiv ctive ely: ly:
IFRS IFRS 3.62 3.62 IFRS 3.B67
a)
if the initial initial accoun accounting ting for for a business business combinat combination ion is incomple incomplete te (see (see paragr paragraph aph 45) for for particular assets, liabilities, non-controlling interests or items of consideration and the amounts recognised in the financial statements for the business combination thus have been determined only provisionally:
b)
i)
the reason reasons s why why the the initial initial account accounting ing for for the the busin business ess combinat combination ion is is incomplete;
ii)
the asse assets, ts, liabilit liabilities ies,, equity equity intere interests sts or or items of of conside considerat ration ion for which which the the initial accounting is incomplete; and
iii)
the natu nature re and and amount amount of any measu measureme rement nt period period adjust adjustment ments s recogn recognise ised d during during the reporting period in accordance with paragraph 49.
for each each reporting reporting period after the acquisition date until the entity collects, collects, sells sells or otherwise loses the right to a contingent consideration asset, or until the entity settles a contingent consideration liability or the liability is cancelled or expires:
c)
i)
any chan changes ges in the recogni recognised sed amounts, amounts, includ including ing any any differe difference nces s arising arising upon upon settlement;
ii)
any change changes s in the rang range e of outcome outcomes s (undisco (undiscounte unted) d) and the the reason reasons s for those those changes; and
iii)
the valua valuation tion techni technique ques s and key key model model inputs inputs used used to measure measure continge contingent nt consideration.
for continge contingent nt liabilities liabilities recognised recognised in a business business combination, combination, the acquirer acquirer shall shall disclose disclose the information required by paragraphs 84 and 85 of IAS 37 for each class of provision. Page 66 of 69
NO
N/ A
DISCLOSURE MADE YES
d)
a reconciliation reconciliation of the carrying amount of of goodwill goodwill at the the beginning beginning and end end of the reporting reporting period showing separately:
e)
i)
the gross gross amount amount and and accumu accumulate lated d impairme impairment nt losse losses s at the the begi beginnin nning g of the the reporting period.
ii)
addition additional al goodwil goodwilll recognis recognised ed during during the the report reporting ing period period,, excep exceptt goodwill goodwill included in a disposal group that, on acquisition, meets the criteria to be classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.
iii)
adjustme adjustments nts result resulting ing from the subse subseque quent nt recogni recognition tion of defer deferred red tax tax assets assets during the reporting period in accordance with paragraph 67.
iv)
goodwill goodwill include included d in a disposa disposall group class classifie ified d as held held for sale sale in accord accordanc ance e with IFRS 5 and goodwill derecognised during the reporting period without having previously been included in a disposal group classified as held for sale.
v)
impairment impairment losse losses s recogni recognise sed d during during the repo reportin rting g period period in accord accordance ance with IAS IAS 36. (IAS 36 requires disclosure of information about the recoverable amount and impairment of goodwill in addition to this requirement.) (vi) net exchange rate differences arising during the reporting period in accordance with IAS 21 The Effects of Changes in Foreign Exchange Rates.
vii)
any other other chan changes ges in the the carry carrying ing amount amount during during the reporti reporting ng period period..
viii)
the gross amount and accumulate accumulated d impairment impairment losses losses at the the end end of the reporting reporting period.
the amount amount and and an explanation explanation of any gain or loss recognise recognised d in the the current current reporting reporting period that both: i)
relate relates s to the the identif identifiabl iable e asset assets s acquire acquired d or liabilit liabilities ies assu assumed med in a busines business s combination that was effected in the current or previous reporting period; and
ii)
is of such such a size, size, nature nature or inciden incidence ce that that disclos disclosure ure is rele relevan vantt to und unders erstand tanding ing the combined entity‟s financial statements.
5.0 5.0
Have Have addi additi tion onal al info inform rmat atio ion n nec neces essa sary ry to mee meet the the obje object ctiv ive es in in Par Para a 59 59 and and 60 bee been dis discl clos osed ed
IFRS IFRS 3.63 3.63
where specific disclosures required by this and other IFRSs do not meet those objectives? Acquisitions: classification of financial instruments 6.0
In some situatio situations, ns, IFRSs IFRSs provide provide for differe different nt account accounting ing depend depending ing on how an entity entity classifies classifies or designates a particular asset or liabili ty. Has the acquirer made classification s or designations on the basis of the pertinent conditions as they exist at the acquisition date, for: a)
classifi classificati cation on of particular particular financia financiall assets assets and liabilities liabilities as measure measured d at fair value value or as at am ortised cost, in accordance wit h IAS 39 Financial Instruments: Recognition and Measurement?
b)
designa designation tion of a derivat derivative ive instrume instrument nt as a hedging hedging instrument instrument in accorda accordance nce with IAS 39? and
c)
assessment assessment of whether whether an embedded embedded derivative derivative should should be be separate separated d from a host contract contract outside the scope of IFRS 9 in accordance with IAS 39 (which is a matter of „classif ication‟
as this IFRS uses that term)?
Page 67 of 69
IFRS IFRS 3.16
NO
N/ A
DISCLOSURE MADE YES PART PART XV 1
INSU INSURA RANC NCE E CONT CONTRA RACT CTS S Has Has info inform rmat atio ion n that that ide identif ntifie ies s and and explai plains ns the the amou amount nts s in an insur insure ers fina financ ncia iall stat state ement ments s
IFR IFRS 4.36 4.36
arising from insurance contracts been disclosed? 2
To com ply with IFRS 4.36 above, has the insurer discl osed: a)
IFRS 4.37
its accounting accounting policies for insurance insurance contracts contracts and and related related assets, assets, liabilities, liabilities, income and expense?
b)
the recognise recognised d assets, assets, liabilities, liabilities, income and expen expense se (and, (and, if it prese presents nts its stateme statement nt of cash flows using the direct method, cash flows) arising from insurance contracts? Furthermore, if the insurer is a cadent, has it disclosed: (i) gains and losses recognised in profit or loss on buying reinsurance?; and (ii) if the cadent defers and amortises gains and losses arising on buying reinsurance, the amortisation for the period and the amounts remaining unamortised at the beginning and end of the period?
c)
the proces process s used used to determine determine the the assumptions assumptions that have have the the greate greatest st effect effect on the measurement of the recognised amounts described in (b)? When practicable, has the insurer also given quantified disclosure of those assumptions?
d)
the effect effect of changes changes in assumptions assumptions used used to to measure measure insurance insurance assets assets and insurance insurance liabilities, showing separately the effect of each change that has a material effect on the financial statements?
e)
reconciliations reconciliations of of changes changes in insurance insurance liabilities, reinsurance reinsurance assets assets and, and, if any, any, related related deferred acquisition costs?
3
Natu Nature re and and ext exten entt of of risk risks s aris arising ing from from insu insuran rance ce cont contrac racts ts 3.1
3.2
An insurer insurer shall shall disclose information that that enables enables users of its financial financial statement statements s to evaluate the nature and extent of of risks arising fr from in insurance contracts?
IFRS 4.38
To com ply with IFRS 4.38, has the insurer discl osed:
IFRS 4.39
a)
its objec objective tives, s, policie policies s and proce processe sses s for managin managing g risks risks arising arising from from insuranc insurance e contracts and the methods used to manage those risks?
b)
informati information on about about insura insurance nce risk (bot (both h before before and afte afterr risk mitiga mitigation tion by by reinsurance), including information about: (i) sensitivity to insurance risk (see paragraph 39A)? (ii) concentrations of insurance risk, including a description of how management determines concentrations and a description of the shared characteristic that identifies each concentration (e.g. type of insured event, geographical area, or currency? (iii) actual claims compared with previous estimates (i.e. claims development). The disclosure about claims development shall go back to the period when the earliest material claim arose for which there is still uncertainty about the amount and timing of the claims payments, but need not go back more than ten years. An insurer need not disclose this information for claims for which uncertainty about the amount and timing of claims payments is typically resolved within one year
c)
information about credit risk, li quidity risk and market risk that paragraphs 31–42 31–42
of IFRS 7 would require if the insurance contracts were within the scope of IFRS 7? However the following disclosures are not necessary, (i) an insurer need not provide the maturity analysis required by paragraph 39(a) of IFRS 7 if it discloses information about the estimated timing of the net cash outflows resulting from recognised insurance liabilities instead. This may take the form of an analysis, by estimated timing, of the amounts recognised in the statement of financial position. (ii) if an insurer uses an alternative method to manage sensitivity to market conditions, such as an embedded value analysis, it may use that sensitivity analysis to meet the requirement in paragraph 40(a) of IFRS 7. Such an insurer shall also provide the disclosures required by paragraph 41 of IFRS 7. d)
informati information on about about expos exposure ures s to market market risk risk arising arising from from embedde embedded d derivat derivative ives s contained in a host insurance contract if the insurer is not required to, and does not, measure the embedded derivatives at fair value?
3.3
Has the insurer discl ose either: a)
IFRS 4.39A
a sensit sensitivity ivity analysis analysis that shows shows how profi profitt or loss loss and equit equity y would would have have been been affected if changes in the relevant risk variable that were reasonably possible at
Page 68 of 69
NO
N/ A
DISCLOSURE MADE YES the end of the reporting period had occurred; the methods and assumptions used in preparing the sensitivity analysis; and any changes from the previous period in the methods and assumptions used.? , However if an insurer uses an alternative method to manage sensitivity to market conditions, such as an embedded value analysis, it may meet this requirement by disclosing that alternative sensitivity analysis and the disclosures required by paragraph 41 of IFRS 7. b)
qualitat qualitative ive informa information tion about about sensit sensitivit ivity, y, and informa information tion about about those those terms terms and and conditions of insurance contracts that have a material effect on the amount, timing and uncertainty of the insurer‟s future cash flows?
4
Ef fe fe ct ctiv e da tte e a nd nd tr an ansi ti tion 4.1
Has the entity applied the disclosure disclosure requirements requirements in this IFRS IFRS to comparative comparative information that relates to annual periods beginning after 1 January 2005, except for the disclosures required by paragraph 37(a) and (b) about accounting policies, and recognised assets, l ia iabili tities, in incom e and ex expense (and ca cash flflows ifif th the direct me method is is us used)?
4.2
IFRS 4. 4.42
If it i s impracticable to apply a particular requirement requirement of paragraphs 10–35 to comparative
information that relates to annual periods beginning before 1 January 2005, has the entity
4.3
disclosed that fact?
IFRS 4.43
Has Has the entit entity y disclo disclose sed d inform informat ation ion abo about ut claims claims dev devel elopm opmen entt that that occur occurre red d for up up to five five
IFRS IFRS 4.44 4.44
years before the end of the first financial year in which it applies this IFRS? Furthermore, if it is impracticable, when an entity first applies this IFRS, to prepare information about claims development that occurred before the beginning of the earliest period for which an entity presents full comparative information that complies with this IFRS, has the entity disclosed that fact? Effective dates: *
For periods beginning on or after January 1, 2009
** ***
For periods beginning on or after July 1, 2009 IFRS 7 that has been adopted but held in abeyance for Banks & DFIs by SECP till the implementation of IAS 39.(Refer SRO 411 (I) /2008 dated April 28, 2008).
****
For periods beginning on or after January 1, 2010 IFRS 9 has an effective date of January 1, 2013: its disclosure requirements have not been included in the disclosure checklist checklist
Page 69 of 69
NO
N/ A
