Disclosing the date and author of authorisation

Learning objectives

• Identify the required disclosures about the date of authorisation for issue and who gave that authorisation.L1, L2

Normative references

• IAS 10 §17An entity discloses the date when the financial statements were authorised for issue and who gave that authorisation; if the entity's owners or others have the power to amend the financial statements after issue, the entity also discloses that fact.
• IAS 10 §18It is important for users to know when the financial statements were authorised for issue, because the financial statements do not reflect events after that date.

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

9 questions

• An entity discloses the date when its financial statements were authorised for issue and the body or persons who gave that authorisation.L1
• If the entity's owners have the power to amend the financial statements after issue, the entity discloses that fact.L1
• Knowing the date of authorisation for issue is of no use to users of the financial statements.L1
• Which statement meets the IAS 10 requirement on authorisation for issue?L1
• Why does IAS 10 regard disclosure of the date of authorisation for issue as important?L2
• Tairgac's articles allow the meeting to amend the accounts after issue. What must it disclose, in addition to the date and the authorising body?L2
• Tergal's note reads: 'Accounts authorised for issue on 9 March 2026.' What is the error?L1
• Tevède's notes merely state that 'the accounts will be approved by the meeting on 15 June'. What is the error?L2
• Under its articles, Traulbard's meeting can amend the accounts after issue. Its note states the authorisation date and the board that gave it, with nothing more. What is the error?L2