Schedule 26 - Contingent liabilities and notes on accounts (Illustrative)

Contingent liabilities and notes: standardized disclosures on guarantees, capital commitments, tax position and foreign currency items.

Schedule XXVI requires illustrative disclosures of contingent liabilities (claims not acknowledged, bank guarantees, letters of credit, bills discounted, disputed demands), estimated capital commitments (net of advances), finance lease rental obligations, a management assertion on recoverable value of current assets, absence of income tax provision where no taxable income exists, detailed foreign currency import/export and expenditure disclosures, auditor remuneration by service type, prior year regrouping where necessary, and incorporation of Schedules I-XXIII into the financial statements.