Provisions Sugg. 3 We have revised the reports issued I take note of this suggestion and We have considered this suggestion Ongoing 2012 by the ITU advisor and we confirm that this will be taken into and would welcome the possibility consider the amount provisioned for account in 2013. to retain the present disclosure possible loss in litigations method, since classifying this substantially correct. Moreover, the provision as a long term provision ITU legal advisor reported us that a would result in the disclosure in the litigation process has an average front of the Statement of Financial time of two years and a half before situation in a separate line of very its settling at ILO Tribunal. sensitive information. Moreover, Therefore, according to the possible the uncertainty regarding the time of settling, we suggest for the duration of the case can be an coming years to reclassify under argument in favor of retaining the non-current assets the amount classification as term”. “short provisioned for litigation. Suggestion presented Comments received from Status as Status on actions by Italian court of Auditors Secretary-General at the time of reported by ITU Management by Management as evaluated by the issuance of the report Italian Court of Auditors
Sugg. 3 2012 Provisions We have revised the reports issued by the ITU advisor and we consider the amount provisioned for possible loss in litigations substantially correct. Moreover, the ITU legal advisor reported us that a litigation process has an average time of two years and a half before its settling at ILO Tribunal. Therefore, according to the possible time of settling, we suggest for the coming years to reclassify under non-current assets the amount provisioned for litigation. I take note of this suggestion and confirm that this will be taken into account in 2013. We have considered this suggestion and would welcome the possibility to retain the present disclosure method, since classifying this provision as a long term provision would result in the disclosure in the front of the Statement of Financial situation in a separate line of very sensitive information. Moreover, the uncertainty regarding the duration of the case can be an argument in favor of retaining the classification as “short term”. Ongoing Suggestion presented by Italian court of Auditors Comments received from Secretary-General at the time of the issuance of the report Status as reported by ITU Management Status on actions by Management as evaluated by Italian Court of Auditors