Events after the reporting period: adjust financial statements for events evidencing conditions at the reporting date.

Ind AS 10 requires adjustment of recognised amounts for events after the reporting period that provide evidence of conditions existing at the reporting date (adjusting events), while events indicative of conditions arising subsequently (non adjusting events) are not adjustments but may require disclosure. The Standard treats certain lender waivers of covenant breaches as adjusting, prohibits preparing financial statements on a going concern basis where post period information makes that assumption inappropriate, and requires disclosure of the approval date and material non adjusting events and their estimated effects.

---

---

---