National Treasury Issues Guidance on GRAP 14 Post-Reporting Date Events

Posted 05 December 2025 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Accounting Academy: National Treasury has released updated technical guidance regarding the application of GRAP 14 on Events after the Reporting Date.

In terms of the Standard of Generally Recognised Accounting Practice on Events after the Reporting Date (GRAP 14), the National Treasury GRAP Knowledge Hub has been updated to clarify the distinction between adjusting and non-adjusting events. This guidance is essential for entities preparing financial statements in accordance with the standards set by the Accounting Standards Board.

The guidance addresses the specific criteria used to determine whether developments occurring after the reporting date, but before the financial statements are authorised for issue, require an adjustment to the recognised amounts or merely a disclosure within the notes. Key focus areas include:

  • The identification of conditions that existed at the reporting date (adjusting events).
  • The treatment of conditions that arose after the reporting date (non-adjusting events).
  • The impact of these events on the fair presentation of the financial position and performance of the entity.

Click here to access the guidance on the National Treasury GRAP Knowledge Hub.

What this means for you, your business, or your clients

  • For yourself: You must review the updated guidance to ensure your technical knowledge of GRAP 14 remains current for the purposes of financial reporting and audit readiness.
  • For your business: Your firm should update its financial statement preparation protocols and year-end checklists to incorporate the Treasury’s specific interpretations of adjusting versus non-adjusting events.
  • For your clients: Public sector clients must be advised to document the timing and nature of post-reporting date events meticulously to support the classification chosen in their annual financial statements and avoid potential audit queries.

Originally published at https://accountingacademy.co.za/news/read/national-treasury-new-guidance-events-after-the-reporting-date-grap-14

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