Page 168 - DUT Annual Report 2020

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DURBAN UNIVERSITY OF TECHNOLOGY ANNUAL REPORT 2020
DURBAN UNIVERSITY OF TECHNOLOGY
NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020
29.
30.
EVENTS SUBSEQUENT TO YEAR END
There were no events, which were material to the financial affairs of the University, which has occurred between the financial year-end and the date of approval of the University’s financial statements that required additional disclosures and amendments to these financial statements.
GOING CONCERN
The Council undertakes regular assessment of whether the University is a going concern in the light of current economic conditions and all available information about future risks and uncertainties.
The projections for the University have been prepared, covering its liquidity for a period of 12 months from the date of approval of these financial statements. These analyses have been updated to include the ongoing developments related to the COVID-19 pandemic. These pandemic scenarios continue to evolve as the effects of the pandemic continue to extend.
The University projections and sensitivity analysis show that the University has sufficient capital and liquidity to continue to meet its short-term obligations and as a result it is appropriate to prepare these financial statements on a going concern basis.