INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES, GENEVA
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Page 35
Public
3.6 Provisions
At 31 December 2022 and 2021, the balances and movements in provisions are as follows:
Operations
Redundancy
Total
2022
CHF 000s
CHF 000s
CHF 000s
CHF 000s
Current provisions
Balance at 1 January
35,959
5,139
101
41,199
Additional provisions
53,285
3,647
1,958
58,890
Unused amounts reversed
-
( 547)
-
( 547)
Used during the year
( 35,959)
( 2,970)
( 1,743)
( 40,672)
Balance at 31 December
53,285
5,269
316
58,870
Pledge and
services
deficits
2021
Current provisions
Balance at 1 January
32,172
7,251
178
39,601
Additional provisions
35,959
1,167
1,304
38,430
Unused amounts reversed
-
( 1,246)
( 230)
( 1,476)
Used during the year
( 32,172)
( 2,033)
( 1,151)
( 35,356)
Balance at 31 December
35,959
5,139
101
41,199
A provision is recognised when the IFRC has a present legal or constructive obligation as a result of a past event; it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation; and a reliable estimate
can be made of the amount of the obligation. Provisions are reviewed at the end of each reporting period and adjusted to
reflect the current best estimates.
Provision for operations
The provision for operations includes the estimated value of cash working advances made to National Societies that have not
been reported at the reporting date and the estimated costs of other operational liabilities that have been incurred at the
reporting date, where the timing and/or the amount is uncertain.
Provision for pledge and services deficits
The provision for pledge and service deficits is maintained for restricted activities where expenditure and the estimated costs
of individual pledges and services, has exceeded the income and the IFRC considers future funding is unlikely to be collected
within 12 months following the period end date.
Provision for redundancy
The provision for redundancy is made for the estimated cost of known redundancies. A redundancy is known when the
decision to make the employee redundant has been taken and communicated. The provision includes the costs of known
redundancies that were announced in 2022 and will be settled within the next 12 months.
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