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The fair value or future cash flows of interest-bearing assets and liabilities of the Agency
The carrying values of financial assets and liabilities are a reasonable approximation of their
will fluctuate because of changes in market interest rates. It is the Agency’s policy to
The Agency monitors its working capital requirements on an ongoing basis to ensure
minimise the interest rate risk by monthly review of the appropriate level of such assets
and other factors, including expectation of future events that are believed to be reasonable
resulting The The
Estimates and judgments are continually evaluated and are based on historical experience
Liquidity risk is the risk that cash or another financial asset will not be available to meet
liabilities as they fall due, and it results from maturity mismatch of assets and liabilities.
The results. recoverable.
future. actual be
the related not may
concerning assumptions the to equal seldom estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below: Property, plant and equipment are reviewed for impairment whenever events or changes amounts carrying the recoverable amounts of property, plant and eq

AGENCY FOR VOLUNTEER SERVICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 Financial and capital risks management (Continued) Financial risk management (Continued) Interest rate risk and liabilities in view of the tendency of market interest rates. Liquidity risk adequate cash for its operation. Fair value estimation fair values. Critical accounting estimates and judgements under the circumstances. and es

3. 3.2 (b) (c) 3.3 4. The (a)

continue as a going concern, to support the Agency’s stability and growth and to provide
The Agency’s objectives when managing capital are to safeguard the Agency’s ability to
Operation unforeseeable the on

the focuses
and with
Fund cope to programme
adequate fund for the purpose of achieving the Agency’s objectives.
Development and Agency

Agency the up set the of development The Agency defines total of all Agency’s funds as its capital and is not subject to externally imposed capital requirements. The Agency regularly reviews and manages its fund structure and makes adjustments to the fund structure in light of changes in Agency’s operating results. The Agency has no loan or trading debt as at 31 March 2020. It also maintains sufficient cash The Agency’s

AGENCY FOR VOLUNTEER SERVICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 Financial and capital risks management Fund management has Agency the particular, the for Fund Contingency circumstances. and cash equivalents to meet all its payment obligations. Financial risk management Agency’s The risk. Agency's financial performance. Credit risk on an ongoing basis. be low.

3. 3.1 In 3.2 liquidity (a)