Government approved constructions of expressway

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Reference no: EM133209417

In connection with your audit of the financial statement of chemicals manufacturing corp. for the year ended December 31, your post-balance sheet audit procedures disclosed the following subsequent event items:

1. January 3: the Ontario government approved constructions of an expressway. The plan will result in the expropriation of land owned by the chemicals manufacturing corp. constructions will begin later next year. No estimate of the expropriation award is available.

Reference no: EM133209417

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