PSAS 9 REVENUE FROM EXCHANGE TRANSACTIONS An exchange revenue transaction is defined as one whereby an entity receives resources, assets

s or services, or has liabilities extinguished, and directly gives approximately equal value (primarily in the form of goods, services or use of assets) to the other party in exchange. Examples include revenue from: (a) fees for services such as processing of international applications and related fees for modification, renewals, extracts, abandonment, etc., arbitration/mediation fees, (b) the sale of publications; (c) rental income from the usage of fixed assets by others including parking fees (d) interest revenue (e) rental income from investment properties.

Change in revenue 2012 - 2011

2012 REVENUE Assessed contributions Voluntary contributions Publications revenue Investment revenue PCT system fees Madrid system fees Hague system fees Sub-total fees Arbitration and Mediation Other/miscellaneous revenue TOTAL REVENUE 2011

Net Change

Net Change %

(in millions of Swiss francs) 17.6 7.7 0.6 1.8 248.2 51.6 3.0 302.8 1.7 4.8 337.0 17.4 8.6 0.7 4.3 206.6 51.0 3.0 260.6 1.5 0.1 293.2 0.2 -0.9 -0.1 -2.5 41.6 0.6 42.2 0.2 4.7 43.8 1.1 -10.5 -14.3 -58.1 20.1 1.2 16.2 13.3 4,700.0 14.9

Expense Analysis Tests Conducted Result Sr. No 1. Test a) Revenue from the provision of services: This is the major source of revenue of WIPO. Check whether revenue from services is recognized in the year in which the service is rendered according to the estimated stage of completion of that service, provided that the outcome can be estimated reliably Yes No Remarks

(i.e. if the stage of completion of the transaction at the reporting date, the costs incurred and the costs necessary to complete the transaction can be measured reliably). b) WIPO fee revenue - prior to the performance of the service, revenue received related to the provision of services will be reflected as deferred revenue on the Statement of Financial Position: i) All revenue from fees related to the processing of international applications (Trademark, Industrial Design, Patents): Check whether revenue is recognized when applications were actually published. WIPO, however, follows a system of recognizing revenue after excluding the revenue deferred in respect of the applications not published. Note: a) To establish this, calculate the probable revenue that should have been received based on number of applications that were published during the year (whose applications may even pertain to the previous years) and the rate applicable. b) Check the revenue deferred figures as per a statement (prepared every year by Income section of Finance Services with the help of Economic & Statistical Unit) to check their accuracy. For this purpose compare the data maintained in the BIBADMIN (an interface for PCT revenue) with the data maintained in the PeopleSoft/AIMS. c) Perform similar test for checking interface between CIGAGIP (payroll software) and PeopleSoft/AIMS. Note: Depending on the time available, perform tests a) and b) above for other fee from other unions (Madrid, Lisbon, and The Hague) too. 2. 3. Check if interest income was recognized as it accrues taking into account the effective yield Check if any revenue from operating leases was recognized according to the terms of the relevant lease agreement or, if no basis is specified, on a straight line basis over the lease term