IAS 10

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IAS 10 explains the duties of companies and directors in looking for adjusting events after the reporting period. 

*Events - events which occur after the reporting period but before the date that the financial statements are authorised. 

In order to make the decision regarding whether an adjustment should be made for an event, it must be taken in to account whether we have become aware of a condition that existed at the reporting period (in which case we will required to adjust the accounts), or where we have become aware of a condition that arose after the reporting period (in which case we will only be required to give disclosure). 

*Adjusting event - events which provide…

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