QUESTION THREE ( 4 marks) Below is an extract of the disclosure requirements in the Accounting Standard AASB137 Provisions, Contingent Liabilities and Contingent Assets. Disclosure Under paragraph 84 (d) the standard requires unused amounts of a provision (for example a Provision for Warranties) to be disclosed. Required Explain why reporting the past unused provisions (a) is informative for users of financial reports ( 1 mark) and (b) may give rise to an increase in the accuracy of future provisions (3 marks) QUESTION THREE ( 4 marks) Below is an extract of the disclosure requirements in the Accounting Standard AASB137 Provisions, Contingent Liabilities and Contingent Assets. Disclosure Under paragraph 84 (d) the standard requires unused amounts of a provision (for example a Provision for Warranties) to be disclosed. Required Explain why reporting the past unused provisions (a) is informative for users of financial reports ( 1 mark) and (b) may give rise to an increase in the accuracy of future provisions