Sun Ltd. had a court case about damages to a local river and communities going on since June 2007. The accounting team decided to keep this information out of the books due its complexity. The legal department, on the other hand, believed that Sun Ltd. should be prepared to pay between 0.5 and 1 billion. The CEO of that time decided to follow the accounting team. During 2007 and 2023 , Sun Ltd. made several marketing campaigns to ensure to the public that their activities were harmless to the environment, and they are a continuing supporter of the local communities groups. On 7 July 2023, the judge decided that the amount of damages will be set at a future date around September 2023. Sun Ltd. has received advice from its lawyers that the amount of the damages could be anything between $1 and $2 billion. On 30 June 2023 , Sun Ltd. declared a profit of $5.3 billion. Sun Ltd.'s financial statements are authorised for issue on 25 August 2023. The damages were only reported by fewer local news and no information was declared since June 2007. Required: Question 3 Critically evaluate these damages by identifying the many accounting choices made since June 2007 with regard to IAS 37 and IAS 10. In your evaluation, provide your opinion on the implications of the many decisions made and the recognition and disclosures concerning provisions, contingent liabilities, and events after reporting period