you are auditing safe tours for the year 30 june 2020. the financial report will be signed by the directors on 31 july 2020 with the auditors report signed on the same date. the audited financial report will be issued on 8th august 2020. After 30th june 2020, the following information has come to light:

1. on 4th july 2020, a prperty owned by safe tours ltd was ruined by flood resulting in an uninsured loss of inventory.

2. on 14th july jungle tours, on of safe tours major client's went into liquidation. jungle tours had invoices dating to 8th june 2020.

required;1. type of subsequent event

2. how each event will impact on the financial report for 30th june 2020.