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Avalon Telematics Ltd
No ratingHigh
FY2024, FY2025
Acquired goodwill carried in the wrong currency since 2022, prior periods restated
The group identified an error under which goodwill and other acquired intangibles from the acquisition had been recorded in the parent's currency rather than each unit's functional currency, and restated every affected prior-period line item.
“During the year the group identified an error under which goodwill and other acquired intangible assets arising on the acquisition of the North America business had been recorded in the parent's currency rather than in the functional currency of each unit, in the financial statements since 2022.”
Indicators: Change in Goodwill
Restatement comparisonRestatementconfidence high
Medium
FY2023, FY2024
Contract costs moved between operating and investing, comparatives re-presented twice
Capitalised contract acquisition costs were reclassified from operating to investing cash flows and the comparative re-presented, in two successive years.
“Capitalised contract acquisition costs have been reclassified from operating to investing cash flows, and the comparative amounts have been re-presented for the second successive year.”
Line items: Operating Cash FlowNet Cash from Investing
Restatement comparisonCash flow classificationconfidence moderate
Showing 2 of 12 · a finding rests on figures this study published, a quoted passage, or bothTypologies: Cost capitalisation policy · Provision or reserve judgement · Cash flow classification · Company-defined measure · Going-concern statement · Governance · Restatement