Economics · Accounting Standards
Which of the following events occurring after the reporting period but before financial statements are authorized for issue is classified as an ADJUSTING event under IAS 10?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Announcement of a major restructuring plan after the reporting date
- 2The discovery of a fraud or error showing that the financial statements are incorrect✓
- 3The destruction of a major factory by fire after the reporting date
- 4A change in tax rate announced after the reporting date, affecting current tax liability
Correct answer
The discovery of a fraud or error showing that the financial statements are incorrect
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