Financial statements, March 31, 2015
7.11. Notes to financial statements: Contingent liabilities
In the normal course of its operations, the Canadian Grain Commission may become involved in various legal actions. Some of these potential liabilities may become actual liabilities when one or more future events occur or fail to occur. To the extent that the future event is likely to occur or fail to occur, and a reasonable estimate of the loss can be made, an estimated liability is accrued and an expense is recorded in the financial statements. As at March 31, 2015, there are no claims outstanding against the Canadian Grain Commission.
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