The date of authorisation for issue

Learning objectives

• Determine the date of authorisation for issue when the shareholders approve the financial statements after issue or when a supervisory board is involved.L1, L2
• Assess, within a governance structure given by the case, which act constitutes the authorisation for issue and its consequences for the analysis window.L2, L3

Normative references

• IAS 10 §4The process involved in authorising the financial statements for issue varies depending on the management structure, statutory requirements and the procedures followed in preparing and finalising the financial statements.
• IAS 10 §5When an entity is required to submit its financial statements to its shareholders for approval after they have been issued, the date of authorisation for issue is the date of issue, not the date when the shareholders approve them.
• IAS 10 §6When management is required to issue the financial statements to a supervisory board made up solely of non-executives for approval, the financial statements are authorised for issue when management authorises them for issue to that board.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

16 questions

• The process for authorising financial statements for issue is the same for all entities.L1
• When shareholders approve the financial statements after they have been issued, the date of authorisation for issue is the date of the shareholders' meeting.L1
• If management must submit the financial statements to a supervisory board made up solely of non-executives, they are authorised for issue once management authorises their submission to that board.L1
• An entity's financial statements are issued, then later approved by its shareholders. Which date of authorisation applies?L1
• An entity's management must submit its financial statements to a supervisory board made up solely of non-executives. When are they authorised for issue?L1
• Under IAS 10, what does the process of authorising financial statements for issue depend on?L2
• Geulot issues its accounts on 8 April; the meeting approves them on 28 May. A dispute arises on 2 May. Why is this dispute not an event after the reporting period for these accounts?L2
• Which statements about the date of authorisation for issue are correct?L2
• At Gevenne, management authorises on 4 March the submission of the accounts to its supervisory board (non-executives only), which approves them on 19 March; they are released on 24 March. Which statements are correct?L2
• Grernade has a 31 December 2025 year-end. Its board of directors finalises and issues the accounts on 18 March 2026; the shareholders' meeting approves them on 26 May 2026. What is the date of authorisation for issue?L2
• The cooperative Gergax, with a 30 September 2025 year-end, releases its financial statements to its members on 9 December 2025; they approve them at a meeting on 20 January 2026. A fire hits a silo on 5 January 2026. What should be concluded?L2
• Grimys's management board authorises on 3 March 2026 the submission of the 2025 accounts to the supervisory board, made up of non-executives. The board approves them on 17 March; they are issued on 20 March. What is the date of authorisation for issue?L2
• At Grirgence, management authorises on 2 February the submission of the accounts to the supervisory board (non-executives), which approves them on 25 February. On 12 February, a major customer is placed in liquidation. How should this event be treated in these accounts?L3
• Griscane issues its 2025 accounts on 14 April 2026. On 2 May, before the meeting on 19 May, it learns that a customer, already in difficulty at the reporting date, is bankrupt. The finance director proposes to adjust the issued accounts. What is the answer?L3
• The Gritia group, with a management board and a supervisory board of non-executives, then submits its accounts to the shareholders' meeting. Write a note determining the date of authorisation for issue and its consequences for the review of events after the reporting period.L3
• Grutenne's board of directors finalises the accounts on 6 March, issues them on 13 March, and the meeting approves them on 22 May. The internal auditor argues that the window runs until 22 May. Write a reasoned reply.L3