Suame Ltd is a listed telecommunication company that prepares its financial statements for the year ended 31 October 2015 in accordance with IFRS. The financial statements are due to be authorized for issue on 15 January 2016.
events after reporting period
According to IAS 10 events after reporting period adjusting event is an event after reporting date that provides further evidence of conditions that existed at the reporting date
Examples of adjusting events are
- Discovery of fraud or errors that show the financial statements are incorrect
- Determination after reporting date of cost of assets purchased or proceeds from asset sold, before