Our 4-part blog series on dealing with Covid-19 business challenges in the context of the going concern basis of financial statement preparation concludes with this as part IV. In this article, we explain the importance of IAS 10, dealing with events after the financial auditing reporting period, more specifically, between the balance sheet date and the date that the financial statements are approved for release.
- Provide additional information pertaining to conditions that prevailed at balance sheet date.
- Provide new information on circumstances or conditions that arose subsequent to the balance sheet date. These circumstances or conditions did not prevail or exist at the balance sheet date.
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