36 WWWNEW G O L D C O M TSXNGD NY SE Am er ic an NG D CRI T I CAL JUDGMENTS AND ES T I MAT I ON UNCERT AINT IES The prepa rati on of the Co mpan ys con s olid ated fina ncial stat eme n ts in confo r mity with IFRS requires th e Comp an ys m anag ement to make jud g m ents e s timat e s a nd assum p tions abo ut the future e v e n ts that affe ct the amou nts reporte d in the con s oli dated financi a l stat e m ents and rel a ted note s to the finan cial statements Estimates a n d assum p tion s are co ntinu a lly e v alu a te d and a r e ba sed o n man a gement s e x p e rien ce and other facts an d circum stan ce s Revi sio n s to estimate s and the resulting effects on the carryi n g amounts of the Comp an ys asset s and liabilities a r e accou n ted for prospe ctivel y The a r ea s which re quire manag eme n t to make sig n ificant ju dg ments e s tim a tes a nd a ssumption s in determi ning carryin g val u e s are d e scrib ed in the Co mpan ys a udi ted con s oli d a t ed financi a l statement s fo r the yea r end ed De cem b e r 31 2019 e x cept as n o t ed in the co nden se d co n s olid ated inte rim finan cial statement s fo r the three m onths e nde d March 31 20 20 ACCOUNT I NG POLICIES The Com pan y s signifi cant acco unting p o licie s and fu ture ch ang es in accountin g policie s are pre s ente d in the audite d consolidated finan cial state m ents fo r th e ye ar e nde d De cem b e r 31 201 9 an d ha ve b een con s i s tently a pplied in the prep aration o f the conde nsed co nsolidat ed interim fin anci a l statem ents