# The Building Societies (Accounts and Related Provisions) Regulations 1987, Paragraph 4


(1) The amount of any item shall be determined on a prudent basis, and in particular all liabilities and losses which have arisen or are likely to arise in respect of the financial year to which the accounts relate or a previous financial year shall be taken into account, including those which only become apparent between the balance sheet date and the relevant date.
(2) For the purposes of subparagraph (1) above, the relevant date is the date of signature of the balance sheet of the society on behalf of the board of directors under section 80 of the Act (signing of balance sheet and annexing of documents).

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Source: https://www.legislation.gov.uk/uksi/1987/2072/schedule/5/paragraph/4 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1987/schedule-5/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.