INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES, GENEVA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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1.3 Critical accounting estimates and judgements (continued)
All significant accounting judgements, estimates and assumptions specific to one note are described in that note or the
associated accounting policy. In particular:
(i) Judgements
Information about judgements made in applying accounting policies that have the most significant effects on the amounts
recognised in the consolidated financial statements is included in the following notes:
-
Note 2.1b – Income from voluntary contributions and donations: whether a voluntary contribution is fully under
the control of the IFRC and hence its accounting treatment;
-
Note 2.1c – Income from the provision of services: whether services income is recognised over time or at a point
in time.
(ii) Estimates and assumptions
Information about assumption and estimation uncertainties that have a significant risk of causing a material adjustment
to the carrying amounts of assets and liabilities, within the next financial year is included in the following notes:
-
Note 3.2b - ESSN project: key assumptions used to estimate the value of the financial asset and financial liability
associated with the delivery of cash to beneficiaries under component B of the agreement with ECHO;
-
Note 4.5 - Post employment defined benefit plans:
key actuarial assumptions;
-
Note 3.4 - Fair value of in-kind contributions and donations: key assumptions used to estimate the value of in-
kind contributions and donations;
-
Note 3.6 - Recognition and measurement of provisions and contingencies: key assumptions about the likelihood
and magnitude of resource flows, including the likelihood of reimbursing pledged funds.
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