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## Impaired receivables 

As at 30 June 2012, no receivables of the Group were impaired (2011: $32,000). The amount of the impairment provision was nil (2011: $32,000). The individually impaired receivables in the comparative period mainly relate to amounts receivable from clients. 

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The amount of the provision for impairment is recognised in profit or loss in other expenses. When a receivable for which an impairment allowance had been recognised becomes uncollectible in a subsequent period, it is written off against the allowance account. Uncollectible receivables are where there is no expectation of recovering additional cash. 

## (c) Liquidity risk 

Liquidity risk relates to the Group having insufficient liquid assets to cover current liabilities and unforeseen expenses. 

The Group maintains a prudent approach to managing liquidity risk exposure by maintaining sufficient liquid assets and an ability to access a committed line of credit. It is managed by continuously monitoring actual and forecast cash flows and by matching the maturity profiles of financial assets and liabilities. Temporary surplus funds are invested in highly liquid, low risk financial assets. 

The Group had access to un-drawn bank borrowing facilities at the balance date, on the terms described and disclosed in Note 21 Borrowings. 

The liquidity requirements for licensed entities in the Group are regularly reviewed and carefully monitored in accordance with those licence requirements. 

