Ombud Council AR 2026

PART F: FINANCIAL INFORMATION

Depreciation and amortisation During each financial year, management reviews property, plant and equipment to assess whether the useful lives and residual values applicable to each asset are appropriate. At the end of each financial year management assesses whether there is any indication that the Ombud Council’s expectations about the useful life of assets included in property, plant and equipment have changed since the preceding reporting date. Provisions Provisions were raised and management determined an estimate based on the information available. Additional disclosure of these estimates of provisions is included in note 8. Impairment of statutory receivables If there is an indication that a statutory receivable, or a group of statutory receivables, may be impaired, tests are conducted. The impairment loss is measured as the difference between the estimated future cash flows and the carrying amount. Where the carrying amount is higher than the estimated future cash flows, the carrying amount of the statutory receivable, or group of statutory receivables, are reduced, either directly or through the use of an allowance account. The amount of the loss is recognised in surplus or deficit. Refer to note 4. Going concern The Ombud Council’s management annually assesses the entity’s ability to continue as a going concern based on forecasted estimates and information. Refer to note 27. Measurement of expected credit loss (ECL) The key assumptions in determining the impairment of financial assets: Assessment of whether credit risk on the financial asset has increased significantly since the initial recognition and incorporation of forward-looking information of ECL’s which adjustments are made based on the Ombud Council interactions with debtors and macro-economic outlook such as event risk, have been take into account in ECL estimates. Where applicable, establishing relative weightings of forward-looking information (best, base and adverse) for inclusion in the ECL calculation. 1.3 Property, plant and equipment Property, plant and equipment comprise furniture and fittings, computer and office equipment. The cost of an item of property, plant and equipment is recognised as an asset when: • it is probable that future economic benefits or service potential associated with the item will flow to the entity; and • the cost of the item can be measured reliably. Property, plant and equipment is initially measured at cost. Where an asset is acquired through a non-exchange transaction, its cost is its fair value as at date of acquisition. Subsequently all items of property, plant and equipment are measured at cost less accumulated depreciation and any impairment losses. Depreciation commences when the item of property, plant and equipment is available for use. Property, plant and equipment items are tested for impairment when there is an indicator that the asset or assets should be impaired. Property, plant and equipment are depreciated on a straight-line basis at rates that will reduce their carrying value to estimated residual value over their estimated useful lives, refer to note 6.

Ombud Council 2025/26 Annual Report

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