Events that occur between a balance-sheet date and the date on which financial statements are approved, providing additional evidence of conditions existing at the balance-sheet date. For example, a valuation of a property held at the balance-sheet date that provides evidence of a permanent diminution in value would need to be adjusted in the financial statements. Such events include those that, because of statutory or conventional requirements, are reflected in financial statements. The traditional UK practice is set out in Statement of Standard Accounting Practice 17, Accounting for Post Balance Sheet Events, which requires that such material events should be reflected in the actual account balances in the financial accounts, where they purport to give a true and fair view. In 2004 SSAP 17 was replaced by Financial Reporting Standard 21, Events After the Balance Sheet, which includes a stricter definition of adjusting events based on that in International Accounting Standard 10. Compare non-adjusting events.