EU Parliament Sallux - Audit report on IFRS accounts (foundations

Responsibilities of the Board of Directors for the preparation of the Financial Statements The Board of Directors is responsible for the preparation and fair presentation of the Financial Statements in accordance with IFRS, and for such internal control as the Board of Directors determine is necessary to enable the preparation of Financial Statements that are free from material misstatement, wheth. [...] Any gain or loss arising on derecognition of the asset (calculated as the difference Page 13 of 34 SALLUX– Financial statements as of and for the year ended 31 December 2022 between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when the asset is derecognized. [...] Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: Underlying assets Useful lives Office 6 years If ownership of the leased asset transfers to the Foundation at the end of the lease term, or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful. [...] Page 19 of 34 SALLUX– Financial statements as of and for the year ended 31 December 2022 The annual Membership Fees of the based on a basic sum per member of Parliament in the National of Regional Parliament of the country the member is based. [...] However the restoration obligation is at the discretion of the lessor and therefore not within the control of the Foundation.