Adjusting events, also known as post-balance-sheet events, occur between the balance-sheet date and the date on which financial statements are approved, providing additional evidence of conditions existing at the balance-sheet date.
A formal written record of representations made by the management of an organization to the auditors, aimed at confirming matters of material significance impacting the audit and financial statements.
Post-balance-sheet events, also known as subsequent events, are events or transactions that occur after the balance sheet date but before the financial statements are issued or available to be issued. These events sometimes impact the financial reporting and disclosures of the entity.
