Those events, favourable and unfavourable, that occur between the end of the reporting period
and the date when the financial statements are authorised for issue. Two types of events can be
identified:
(a) those that provide evidence of conditions that existed at the end of the reporting period
(adjusting events after the reporting period); and
(b) those that are indicative of conditions that arose after the reporting period( non-adjusting
events after the reporting period).