CERTYNEX IFRS ACADEMY

After the reporting period, an entity obtains evidence about a contingent liability that existed at 31 December, without the conditions for a provision being met. What must it do?

Recognise a provision at 31 December for the top of the range.

Change nothing, since no recognised amount is changed.

Remove the mention of the contingent liability from the notes, as it is now pointless.

Update the disclosures about that contingent liability.