CQUniversity Annual Report - Central Queensland University

CQUniversity ANNUAL REPORT 2012
Note 33. Remuneration of auditors
Assurance Services
1. Audit Services
Fees paid to the Auditor General of Queensland:
Central Queensland University
and Controlled Entities
Notes to the Financial Statements
for the year ended 31 December 2012
Consolidated
Parent Entity
2012 2011 2012 2011
$ $ $ $
During the year the following fees were paid for services provided by the auditor of the parent entity and its controlled entities.
Audit and review of financial reports under the Financial
Accountability Act 2009
359,868 367,300 209,500 243,600
Total remuneration for audit services 359,868 367,300 209,500 243,600
57
ANNUAL FINANCIAL STATEMENTS
Note 34. Contingencies
Contingent Liabilities
(a) Consultation with the University's staff and insurers has indicated one (1) pending issue which may result in a claim
against the University. This relates to a possible employment claim. It is difficult to quantify the financial impact of this
potential claim, as the amount payable for this claim, if any, would be reduced by any payout received from the
University's insurers. No material amount is expected to be paid in relation to this matter as at 31 December 2012.
(b) The University has provided a bank guarantee from the Commonwealth Bank of Australia for $2,000,000 in 2012 in
relation to a building lease for 333 Kent Street, Sydney and a further $30,701 for other entities.
(c) The University has provided a bank guarantee from the Commonwealth Bank of Australia for $22,500 in 2012 in
relation to an overseas based research project.