What type of event requires adjustment or disclosure under IAS 10?

Adjustments or disclosures under IAS 10 are specifically related to subsequent events that have a material impact on the financial statements. Subsequent events are events that occur after the reporting period but before the financial statements are approved for issue.

When these events are identified, they can either provide additional evidence about conditions that existed at the end of the reporting period, which necessitates adjustments to the financial statements, or they may indicate conditions that arose after the reporting period, which require disclosure. The purpose of these adjustments or disclosures is to ensure that users of the financial statements have the most accurate and relevant information to make economic decisions.

This means that only events having significant implications for the financial statements will warrant alterations or notes in the financials. In particular, the emphasis lies in events that could materially change the information presented, hence requiring attention for clarity and transparency.