Online version of the 2013-14 Department of Health Annual Report

Note 11: Contingent Assets and Liabilities

Notes to and Forming Part of the Financial Statements

Page last updated: 17 July 2019

Quantifiable contingencies

At 30 June 2014 the TGA did not have any quantifiable contingent assets or liabilities (2012-13: nil).

Unquantifiable contingencies

Contingent assets

At 30 June 2014 the TGA did not have any unquantifiable contingent assets (2012-13: nil).

Contingent liabilities

The TGA has provided an indemnity to its transactional banker in relation to any claims made against the bank resulting from errors in the TGA’s payment files. It is not possible to estimate the amounts of any payments that may be required under this indemnity. The same indemnity existed at 30 June 2013.

Significant remote contingencies

At 30 June 2014 the TGA did not have any significant remote contingencies (2012-13: nil).

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