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Post by account_disabled on Dec 26, 2023 4:21:39 GMT
Will not feel its impact. According to current Polish regulations, an entity's annual financial statements must be approved by the approval authority within 3 months from the balance sheet date. This means that if we assume that the balance sheet date is the end of the year then the entity has to approve the financial statements by day month year year. In practice. The process of approving financial statements is delayed, usually taking place in the first weeks of spring or even summer. As a result, a significant number of entities have had their financial statements audited but Country Email List not yet approved. It is generally accepted that no adjustments can be made to financial statements after they have been prepared and audited and that approval. Of financial statements is only formal. This belief is wrong. According to Art. An entity will not exist if, after the preparation of its annual financial statements and before their approval, the entity receives information about events that have a material effect on those financial statements or lead to an assumption that the entity will continue as a going concern.
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