IOOF  | Annual Report 2012 Impaired receivables As at 30 June 2012, no receivables of the Group were impaired (2011: $32,000). The amount of the impairment provision was nil (2011:  $32,000). The individually impaired receivables in the comparative period mainly relate to amounts receivable from clients. The ageing of these impaired receivables is as follows: Consolidated Parent 2012 2011 2012 2011 $’000 $’000 $’000 $’000 Less than 3 years - - - - Greater than 3 years - 32  - - - 32  - - Movements in the provision for impairment of receivables are as follows: Consolidated Parent 2012 2011 2012 2011 $’000 $’000 $’000 $’000 Balance at beginning of the year 32  30  - - Provision for impairment recognised - 2  - - Receivables written off as uncollectible (32) - - - Balance at end of the year - 32  - - The amount of the provision for impairment is recognised in profit or loss in other expenses. When a receivable for which an  impairment allowance had been recognised becomes uncollectible in a subsequent period, it is written off against the allowance  account. Uncollectible receivables are where there is no expectation of recovering additional cash. Liquidity risk relates to the Group having insufficient liquid assets to cover current liabilities and unforeseen expenses. The Group maintains a prudent approach to managing liquidity risk exposure by maintaining sufficient liquid assets and an ability  to access a committed line of credit. It is managed by continuously monitoring actual and forecast cash flows and by matching the  maturity profiles of financial assets and liabilities. Temporary surplus funds are invested in highly liquid, low risk financial assets. The Group had access to un-drawn bank borrowing facilities at the balance date, on the terms described and disclosed in Note 21  Borrowings. The liquidity requirements for licensed entities in the Group are regularly reviewed and carefully monitored in accordance with those  licence requirements. (c)  Liquidity risk page 75