Note 5.1 Contingent Assets and Liabilities
As at 30 June 2016 Comcare has no quantifiable contingencies.
Comcare has a number of criminal prosecutions matters before the South Australian Magistrates Court relating to alleged breaches of the Work Health and Safety Act 2011. It is not possible to estimate the potential pecuniary penalty payable to the Commonwealth by the Defendant if the matter is successful.
Contingent liabilities and contingent assets
Contingent liabilities and contingent assets are not recognised in the statement of financial position but are reported in the relevant schedules and notes. They may arise from uncertainty as to the existence of a liability or asset or represent an asset or liability in respect of which the amount cannot be reliably measured.