CCMA ANNUAL REPORT

Commission for Conciliation, Mediation and Arbitration Annual Report 2022/23

Financial Statement for the year ended 31 March 2023

Notes to the Financial Statements

12. Provisions

Utilised during the year

Reversed during the year

Reconciliation of provisions - 31 March 2023

Opening Balance

Additions

Total

Provision for workmen’s compensation

1 490 622 22 651 262 2 347 883

2 977 630 46 685 254 3 691 939

(1 260 544) (45 818 729) (3 236 165)

(1 435 747)

1 771 961 23 517 787 3 195 521

Provision for leave

-

Provision for audit fees

391 864

Provision for once-off salary payment Provision for performance incentives

24 367 992

23 248 972

(19 450 057)

(4 917 935)

23 248 972

1 800 000

-

(1 800 000)

-

-

52 657 759

76 603 795

(71 565 495)

(5 961 818)

51 734 241

Utilised during the year

Reversed during the year

Reconciliation of provisions - 31 March 2022

Opening Balance

Additions

Total

Provision for workmen’s compensation

1 748 974 34 402 221 2 344 759

2 516 203

(1 577 018) (2 243 308) (3 248 386)

(1 197 537) (9 507 651)

1 490 622 22 651 262 2 347 883

Provision for leave

-

Provision for audit fees

3 251 510

-

Provision for once-off salary payment Provision for performance incentives

-

24 367 992

-

-

24 367 992

-

1 800 000

-

-

1 800 000

38 495 954 52 657 759 The provision for audit fees is based on the assumption that CCMA will incur future audit costs according to the audit engagements with external auditors. The provision for leave is based on the total annual leave due to the employees. The CCMA forfeits excess leave carried over to the next leave cycle. The provision for workmen’s compensation is as a result of estimation of the amount that is payable to the Compensation Fund, for occupational injuries and diseases. The provision for performance incentives relates to the performance achievements of the employee based assumption that a determined number of employees will achieve an average performance score to qualify for the incentive. A provision was made for once-off salary payment to compensate staff for the organisation’s inability to afford inflation linked salary adjustments, based on the assumption of the mandate received from the remuneration committee. 31 935 705 (7 068 712) (10 705 188)

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