10 Adjusting events after the reporting date: WHO adjusts the amounts recognized in the financial statements to reflect adjusting events after the reporting date. Such items include:
- Settlement of pending court cases which result in an additional liability;
- Receipt of information about the impairment of an asset at the reporting date;
- The determination after the reporting date of the cost of an asset purchased, or the proceeds from assets sold, before the reporting date; and
- The discovery of fraud or material errors in the financial statements.
20 Non-adjusting events after the reporting date: WHO does not adjust the amounts recognized in the financial statements to reflect non-adjusting events after the reporting date. However, WHO assesses whether additional note disclosure is warranted for such events. Examples of events that do not require an adjustments to the financial statements are:
- Announcement or commencement of the implementation of a major restructuring;
- Announcement of a plan to discontinue a material operation;
- Major purchases or sales of assets; and
- Occurrence of a catastrophe or destruction of certain assets after the reporting date.
