Provisions are recognised as a liability in the statement of financial position whereas contingent liabilities are not recognised in the financial statements but disclosed in the notes to financial statements. Paragraph 12 of LKAS Provisions, Contingent Liabilities and Contingent Assets states that in a general sense, all provisions are contingent because they are uncertain in timing or amount. Give some possible reasons as to why provisions are recognised in the financial statements but not contingent liabilities.