Financial Statements For the year ended
Download 0.68 Mb. View original pdf
|
- Navigate this page:
- 3,953 Total10,337(3,529)(1,737)7,291(53)12,309
| 31 Mar 2022 £’000 Legal costs and claims 2,066 (468) (1,033) 888 – 1,453 End of service 975 (17) – 350 – 1,308 Tax 1,180 (1,021) (160) 3,547 – 3,546 Restructuring 1,841 (1,641) (544) 2,393 – 2,049 Dilapidations 4,275 (382) – 113 (53) 3,953 Total 10,337 (3,529) (1,737) 7,291 (53) 12,309 The opening position has been restated to include provisions for dilapidations which were previously included as part of lease liabilities in the prior year financial statements. The dilapidations provision represents management’s best estimate of the costs to restore ACCA’s leased buildings to their previously unfurnished states. The majority of the provision relates to the UK, Ireland and China offices. The legal costs and claims provision is management’s best estimate of ACCA’s liability relating to the costs associated with ongoing Financial Reporting Council (FRC) investigations and to provisions relating to members and employees. It also includes an estimate fora number of legal claims which are commercially sensitive at this time as well as costs which ACCA maybe liable for when undertaking investigations into any ACCA members conduct relating to the collapse of Anglo-Irish Bank. The end of service provision is management’s best estimate of the potential payouts required if and when employees leave the ACCA UAE, Oman, Bangladesh, India, Botswana and Indonesia offices. The tax provision relates to potential liabilities for transfer pricing, GST and VAT in various jurisdictions throughout the world. As more and more jurisdictions review their tax laws, ACCA continues to manage the settlement of any liabilities with assistance from in-country third party tax advisors. An additional amount was provided during the year as a result of further work carried out in various jurisdictions. During the year ACCA continued its strategic efficiency review, and as a result, a number of posts were made redundant. The restructuring provision is management’s best estimate of ACCA’s liability relating to the costs associated with the roles which were made redundant. Download 0.68 Mb. Share with your friends:
|