Canadian Real Estate Investment Fund No. 1 – 2022 Annual Report
28 June 2023
In circumstances where the Fund defaults, the counterparty is The determination of the fair value of investment property requires the use of estimates such permitted to take the collateral and apply it against these liabilities. [...] management to make estimates, judgments and assumptions that affect the reported amount of assets and liabilities at the reporting date and the reported amount of revenues and The Company is the sole issuer of the insurance contracts providing for investment in the expenses during the reporting period. [...] The assets of the Fund are owned by the Company and are segregated from the other is the most significant component of the financial statements subject to estimates. [...] Changes in assumptions about these factors could affect the reported fair value of financial instruments in the Statement of Financial Position and the level where the The financial statements of the Fund as at and for the year ended December 31, 2022 were financial instruments are disclosed in the fair value hierarchy. [...] SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES In the process of applying the Fund’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the financial The financial statements of the Fund have been prepared in compliance with International statements: Financial Reporting Standards (IFRS), as issued by the International A.