Final answer:
Sue has a 55 per cent chance of winning her case against a colleague, which IAS 37 considers as 'Probable' since it is more likely than not to occur.
Step-by-step explanation:
Sue has filed a complaint against her work colleague for unprofessional conduct, and her legal adviser indicated that there is a 55 per cent chance that she will win the case. According to IAS 37, a probability of 55% would classify as Probable because this percentage is more than 50%, which indicates that it is more likely than not that the event will occur.
It's worth noting that in most legal contexts, especially in civil cases, a 'preponderance of the evidence' is sufficient for the plaintiff to win the case, which means the evidence favors their side more heavily than the defendant's. However, this does not reach the higher standard of 'virtually certain' which typically would be a much higher threshold such as 95% or above. Therefore, Sue's chances of winning, as they stand, would most appropriately be described as 'Probable' under the terms of IAS 37.