Adjusting events require financial statement adjustments to reflect post-period evidence of pre-existing obligations before approval of statements. Adjusting events that existed at the reporting date require entities to adjust recognised amounts or recognise previously unrecognised items when post-period evidence confirms pre-existing conditions. Examples include settlement of litigation confirming an obligation, information indicating asset impairment or revised recoverable amounts, determination of costs or proceeds for transactions before period end, customer bankruptcy confirming credit impairment, and discovery of fraud or errors. Entities must treat adjusting events as occurring on the balance sheet date and consider such events until approval of the financial statements by the approving authority.