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ma’am can we say that material uncertainties related to going concern assumption occurring after reporting date are non-adjusting events and hence require disclosures of nature of event + financial estimate of its impact?
am a little concerned because Part a)i) makes absolutely no Refrence to the phrase “non-adjusting event” when discussing material uncertainty related to going concern.
is there anything am missing?
The y/e is 31 Mar 20X5, the licence renewal will be 28 Feb 20X6 – i.e. within 12 months of the reporting date. Therefore there is MURGC as at 31 Mar 20X5.
Remind yourself of the definition of events after the reporting date (IAS 10) – they are for a finite period – to the date when the financial statements are authorised for issue.
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