Subsequent events - audit process, Auditing

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Subsequent Events - Audit Process

IAS 10 Events after the Balance Sheet Date prescribes the accounting for, and disclosure of, events than the balance sheet date.

Events than the balance sheet date are those events such happen occur between the balance sheet date and the date whenever the financial statements are authorized for matter.

Events after the Balance Sheet Date might be categorized as:

Adjusting events and
Non-adjusting events.

An entity adjusts the amounts that are recognised in the financial statements to reflect adjusting events than the balance sheet date.

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