CQUniversity Annual Report - Central Queensland University

CQUniversity ANNUAL REPORT 2012Note 33. Remuneration of auditorsAssurance Services1. Audit ServicesFees paid to the Auditor General of Queensland:Central Queensland Universityand Controlled EntitiesNotes to the Financial Statementsfor the year ended 31 December 2012ConsolidatedParent Entity2012 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 FinancialAccountability Act 2009359,868 367,300 209,500 243,600Total remuneration for audit services 359,868 367,300 209,500 243,60057ANNUAL FINANCIAL STATEMENTSNote 34. ContingenciesContingent Liabilities(a) Consultation with the University's staff and insurers has indicated one (1) pending issue which may result in a claimagainst the University. This relates to a possible employment claim. It is difficult to quantify the financial impact of thispotential claim, as the amount payable for this claim, if any, would be reduced by any payout received from theUniversity'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 inrelation 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 inrelation to an overseas based research project.