Note 15E Liquidity Risk – The exposure to liquidity risk is based on the notion that the Corporation will encounter difficulty in meeting its obligations associated with financial liabilities. The Corporation has minimal exposure to liquidity risk. The Corporation receives funding from industry through levies and contributions from the Australian Government. In addition, the Corporation has controls in place to ensure that it has adequate resources to meet its financial obligations and has no past experience of default. Maturities for non-derivative financial liabilities 2014 On Within 1 to 2 2 to 5 > 5 Total demand 1 year years years years $’000 $’000 $’000 $’000 $’000 $’000 Payables - 57,684 472 461 - 58,617 Total - 57,684 472 461 - 58,617 Maturities for non-derivative financial liabilities 2013 On Within 1 1 to 2 2 to 5 > 5 Total demand year years years years $’000 $’000 $’000 $’000 $’000 $’000 Payables - 78,554 3,294 407 - 82,255 Total - 78,554 3,294 407 - 82,255 The Corporation had no derivative financial liabilities in both the current and prior year. Note 15F Market risk – Sensitivity analysis of the risk that the Corporation is exposed to for 2014 Risk variable Change in risk Effect on variable Net cost of Equity services 2014 2014 $’000 $’000 + 0.60% (1,732) (1,732) Interest rate risk Interest - 0.60% 1,732 1,732 + 11.5% 2 2 Currency Risk USD - 11.5% (3) (3)
Note 15E – Liquidity Risk The exposure to liquidity risk is based on the notion that the Corporation will encounter difficulty in meeting its obligations associated with financial liabilities. The Corporation has minimal exposure to liquidity risk. The Corporation receives funding from industry through levies and contributions from the Australian Government. In addition, the Corporation has controls in place to ensure that it has adequate resources to meet its financial obligations and has no past experience of default. Maturities for non-derivative financial liabilities 2014 On demand $’000 Within 1 year $’000 1 to 2 years $’000 2 to 5 years $’000 > 5 years $’000 Total $’000 Payables - 57,684 472 461 - 58,617 Total - 57,684 472 461 - 58,617 Maturities for non-derivative financial liabilities 2013 On demand $’000 Within 1 year $’000 1 to 2 years $’000 2 to 5 years $’000 > 5 years $’000 Total $’000 Payables - 78,554 3,294 407 - 82,255 Total - 78,554 3,294 407 - 82,255 The Corporation had no derivative financial liabilities in both the current and prior year. Note 15F – Market risk Sensitivity analysis of the risk that the Corporation is exposed to for 2014 Risk variable Change in risk variable Effect on Net cost of services 2014 $’000 Equity 2014 $’000 Interest rate risk Interest + 0.60% (1,732) (1,732) - 0.60% 1,732 1,732 Currency Risk USD + 11.5% 2 2 - 11.5% (3) (3)
grdcannualreport2013-14inword.docx