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      "text": "At 31 December 2021, the Group's provisions for litigation, regulatory and similar matters (legal provisions) were USD 2,798 million.",
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      "text": "Legal provisions: USD 2,798 million",
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      "text": "We obtained an understanding, evaluated the design, and tested the operating effectiveness of management's controls over DTA valuation, which included the assumptions used in developing the strategic plans and estimating future taxable income. We assessed the completeness and accuracy of the data used for the estimations of future taxable income. This included recalculating the outputs of models applied to the recognition process for DTAs. We involved specialists to assist in assessing the key economic assumptions embedded in the strategic plans. We compared key assumptions used to forecast future taxable income to externally available historical and prospective data and assumptions, and assessed the sensitivity of the outcomes using reasonably possible changes in assumptions. We also assessed management's disclosure regarding recognized and unrecognized deferred tax assets (within Note 8 to the consolidated financial statements).",
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      "text": "future taxable profits is based on its strategic plan that is sensitive to the assumptions made in estimating future taxable income. Auditing management's assessment of the realizability of the Group's DTAs was complex due to the highly judgmental nature of estimating future taxable profits over the life of the underlying tax loss carryforwards. Estimating future profitability is inherently subjective as it is sensitive to future economic, market and other conditions, which are difficult to predict. Specifically, some of the more subjective key macro-economic assumptions used included gross domestic product growth rates, equity market performance, and interest rate expectations.",
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      "text": "At 31 December 2021, the Group's provisions for litigation, regulatory and similar matters (legal provisions) were USD 2,798 million. As explained in Note 18 to the consolidated financial statements, the Group operates in a legal and regulatory environment that is exposed to significant litigation and similar risks arising from disputes and regulatory proceedings. Such matters are subject to many uncertainties and the outcomes may be difficult to predict. These uncertainties inherently affect the amount and timing of potential outflows with respect to the legal provisions which have been established and contingent liabilities. Auditing management's assessment of legal provisions and contingent liabilities was complex and judgmental due to the significant subjectivity involved in management's estimate of the amount and probability that an outflow of resources will be required for existing legal matters, including a material matter related to the cross-border wealth management business (Note 18b.1). In particular, these legal provisions are based on management's estimation of the amount and likelihood of the occurrence of certain scenarios.",
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