BHP Billiton PLC 2016 US Annual Report (Form 20-F/A) (4412L)
19 July 2017 - 4:00PM
UK Regulatory
TIDMBLT
RNS Number : 4412L
BHP Billiton PLC
18 July 2017
Group Governance
19 July 2017
AMENDMENT TO 2016 FORM 20-F (FORM 20-F/A)
BHP has today filed a Form 2016 20-F/A in accordance with US
financial reporting requirements under the US Securities Exchange
Act of 1934 (as amended). The Form 2016 20-F/A restates BHP's 2016
report on internal controls over financial reporting.
Through our Sarbanes Oxley (SOX) Internal Control Evaluation
Program, deficiencies were identified in the controls and processes
that were used to determine the impairments of certain Onshore US
assets.
The control issue that was identified was confined to the
valuation of the Onshore US assets and does not require any change
to the carrying values of the Company's Onshore US assets at 31
December 2016 or any prior period. There is no need for a
restatement of any of the Company's consolidated financial
statements or any changes to published reserves or taxes paid,
however, a Form 20-F/A is required to update the statements from
management and the auditor to reflect the identified issue with the
internal controls.
The issue with the internal controls is isolated, and involves
complex and technical accounting judgements relating to the
specific structure of the relevant acquisitions.
A remediation plan has been implemented. We expect to confirm
the controls are operating effectively as part of 2017 financial
year annual reporting process.
BHP's broader internal control environment was sound for the
purposes of the financial statements issued in respect of the
December 2016 interim results.
The Form 2016 20-F/A has been submitted to the UK National
Storage Mechanism and will shortly be available for inspection at
www.morningstar.co.uk/uk/NSM and may also be accessed at:
bhp.com.
Rachel Agnew
Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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