Page 85 - English

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:
2015 USD ‘000
2014 USD ‘000
Interest receivables
156
54
Other receivables – net
61
101
Amount due from a related party
32
-
Bank balances
26,144
25,592
26,393
25,747
Credit risk in respect of bank balances is limited as The Regulatory Authority only deals with highly reputable banks in Qatar and abroad.
Liquidity risk
Liquidity risk is the risk that the Regulatory Authority is unable to meet its payment obligations associated with its financial liabilities that are settled by delivering cash or another financial assets when they fall due. The Regulatory Authority limits its liquidity risk by securing appropriations from the Government to finance its operating and capital expenditure. The Regulatory Authority’s terms of services require amounts to be paid within 30 days of the date of service.
The table below summarizes the maturity profile of The Regulatory Authority’s financial liabilities at 31 December based on contractual undiscounted payments.
31 December 2015
Carrying amount USD ‘000
Contractual undiscounted cash flows USD ‘000
Less than 6 months USD ‘000
Trade payables
420
420
420
Accrued expenses
4,115
4,115
4,115
Amounts due to a related party
191
191
191
Total
4,726
4,726
4,726
31 December 2014
Carrying amount USD ‘000
Contractual undiscounted cash flows USD ‘000
Less than 6 months USD ‘000
Trade payables
387
387
387
Accrued expenses
4,855
4,855
4,855
Refunds to customers
216
216
216
Total
5,458
5,458
5,458
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