events after reporting period

Absolute assurance in auditing - meaning

Adjusting events after reporting period – meaning

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
Read the rest