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CA Final · Financial Reporting · Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations

While discussing events after the reporting period relating to a held for sale classification, an analyst notes terminology used in Ind AS 105. Which expression does Ind AS 105 use, in contrast to IFRS 5, in the context of financial statements for events after the reporting period?

Ind AS 105 uses the words approval of the financial statements for issue instead of the IFRS 5 expression authorisation of the financial statements for issue, in the context of events after the reporting period.

  1. AAuthorisation of the financial statements for issue
  2. BApproval of the financial statements for issueCorrect
  3. CAdoption of the financial statements by members
  4. DCertification of the financial statements by the auditor

Explanation

The comparison with IFRS 5 states that the words approval of the financial statements for issue are used instead of authorisation of the financial statements for issue in the events after the reporting period context. The other options are not used.

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