Page 129 - Annual Report 2019

126 ANNUAL REPORT 2019 QFC REGULATORY AUTHORITY FINANCIAL STATEMENTS

13. General and Administration Expenses

2019 2018
USD ‘000 USD ‘000
Rent 2,052 1,949
Consultancy and professional fees 1,042 895
Amortisation of software costs (Note 5) 405 410
Depreciation of right-of-use asset (Note 6) 134 -

Depreciation of furniture and equipment (Note 4) 52 163
(Reversal)/allowance for expected credit losses of short-term deposits (Note 8) (5) 10
Other expenses 1,587 1,537

5,267 4,964
14. Commitments

2019 2018
USD ‘000 USD ‘000
Non-cancellable short-term rental commitments
Within one year 1,142 1,194

After one year but not more than five years 4 9
1,146 1,203

Non-cancellable service commitments
Within one year 986 1,241
After one year but not more than five years 78 299
1,064 1,540