Page 152 - HKCAAVQ AR 2018-19

Financial Report ৌਕజѓ

Notes to the Financial Statements (continued)
ৌਕజڌڝൗ€ᚃ

For the year ended 31 March 2019 ࿚Їɚཧɓɘϋɧ˜ɧɤɓ˚˟ϋܓ

21. Financial Instruments (continued) 21. ږፄʈՈ€ᚃ

Financial risk management objectives ৌਕࠬᎈ၍ଣͦᅺʿ݁ഄ
and policies (continued) €ᚃ

Credit risk and impairment assessment (continued) ڦ൲ࠬᎈၾಯ࠽൙П€ᚃ

Other receivables and bank deposits Չ˼ᏐϗሪಛʿვБπಛ

The credit risks on other receivables are insignificant as the Չ˼Ꮠϗಛධٙڦ൲ࠬᎈԨʔࠠ
management of the Council periodically monitors the balances ɽdΪމ͉҅၍ଣᄴ֛ಂ္಻ቱ
to ensure that the counterparties are viable to settle the debts. ᕘd˸ᆽڭʹ׸࿁˓Ϟঐɢ૶Ꮅව
ਕf

Bank deposits are normally placed with financial institutions ვБπಛஷ੬π׳׵Ո௪Ԅλڦ
which have good credit ratings. Investments in debt instruments ൲൙ॴٙৌਕዚ࿴f͉҅ٙවਕᗇ
are with counterparties of sound credit ratings. Given their high Վҳ༟π׳׵Ո௪Ԅλڦ൲൙ॴ
credit ratings, management does not expect any investment ٙʹ׸࿁˓fਿ׵ՉԄλٙڦ൲൙
counterparty to fail to meet its obligations. ॴd၍ଣᄴԨʔႩމவԬʹ׸࿁˓
ึʔᄵБՉᎵ˹ப΂f

Debt instruments at amortised cost ܲᛅቖϓ͉ࠇඎʘවਕʈՈ

The Council only invests in debt instruments with low credit ͉҅සҳ༟׵ڦ൲ࠬᎈ༰Эٙව
risk. The Council’s debt instruments at amortised cost mainly ਕʈՈf͉҅ܲᛅቖϓ͉ࠇඎʘව
comprise of bond issued by listed companies that are graded in ਕʈՈ˴ࠅ͟ɪ̹ʮ̡೯Бٙව
the top investment grade as per globally understood definitions Վଡ଼ϓd༈ഃවՎܲ๫ΌଢʮႩٙ
and therefore are considered to be low credit risk investment. ່֛஗൙މ௰৷ҳ༟ॴйdΪϤ஗
The management of the Council therefore considered the credit ൖމЭڦ൲ࠬᎈҳ༟fΪϤd͉҅
risks are insignificant. ၍ଣᄴႩމϤഃڦ൲ࠬᎈԨʔࠠ
ɽf

152 Hong Kong Council for Accreditation of Academic and Vocational Qualifications
࠰ಥኪஔʿᔖุ༟ዝ൙ᄲ҅