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Employee provisions are calculated in accordance with accounting standards. Calculations are based on short-hand method mainly. Where proabilities are used by the client - reasonableness
Employee provisions are calculated in accordance with accounting standards. Calculations are based on short-hand method mainly. Where proabilities are used by the client - reasonableness of the assumptions are checked and recalcs performed using shorthand method. Calculations and methodology used by the clients are consistent with prior year, and reviewed by management and also by staff who would dispute an incorrect balance. Significant fluctuations are followed up. While there is some subjectivity, the assumptions are considered reasonable. The balances and calculations are also subjected to annual audit for reasonableness and any obvious errors. There are no changes arising from standards or retrospective review to indicate potential material error. Overall, the risk of a material misstatement is considered to be low. can u write this insimple english
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