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+# Event Emission Audit
+
+**Issue:** #299  
+**Audited:** `contracts/governance/src/lib.rs`, `contracts/governance/src/events.rs`, `contracts/token/src/lib.rs`, `contracts/token/src/events.rs`  
+**Result:** ✅ All state-changing methods emit a structured on-chain event.
+
+---
+
+## Governance Contract
+
+| Method | Event topic | Event data | Status |
+|--------|-------------|-----------|--------|
+| `initialize` | `("gov", "init")` | `(admin, voting_token)` | ✅ |
+| `create_proposal` | `("gov", "created")` | `(id, proposer, title, quorum, end_time)` | ✅ |
+| `cast_vote` | `("gov", "voted")` | `(proposal_id, voter, vote, weight)` | ✅ |
+| `finalise` | `("gov", "final")` | `(proposal_id, new_state)` | ✅ |
+| `execute` | `("gov", "exec")` | `(proposal_id, admin)` | ✅ |
+| `cancel` | `("gov", "cancel")` | `(proposal_id, admin)` | ✅ |
+| `update_quorum` | `("gov", "quorum")` | `(proposal_id, old_quorum, new_quorum)` | ✅ |
+| `transfer_admin` | `("gov", "admin")` | `(old_admin, new_admin)` | ✅ |
+| `pause` | `("gov", "paused")` | `(admin)` | ✅ |
+| `unpause` | `("gov", "unpause")` | `(admin)` | ✅ |
+
+Read-only methods (`get_config`, `get_proposal`, `proposal_count`, `get_proposals`, `has_voted`, `get_vote`, `admin`, `version`) correctly emit no events.
+
+---
+
+## Token Contract
+
+| Method | Event topic | Event data | Status |
+|--------|-------------|-----------|--------|
+| `initialize` | `("token", "init")` | `(admin, supply)` | ✅ |
+| `transfer` | `("token", "xfer")` | `(from, to, amount)` | ✅ |
+| `transfer_from` | `("token", "xfer")` | `(from, to, amount)` | ✅ |
+| `approve` | `("token", "approve")` | `(owner, spender, amount)` | ✅ |
+| `mint` | `("token", "mint")` | `(admin, to, amount)` | ✅ |
+| `burn` | `("token", "burn")` | `(admin, from, amount)` | ✅ |
+| `transfer_admin` | `("token", "admin")` | `(old_admin, new_admin)` | ✅ |
+
+Read-only methods (`total_supply`, `balance`, `balance_of`, `allowance`, `admin`, `version`) correctly emit no events.
+
+---
+
+## Event Schema Reference
+
+```
+# Governance
+gov / init      → (admin: Address, token: Address)
+gov / created   → (id: u64, proposer: Address, title: String, quorum: i128, end_time: u64)
+gov / voted     → (proposal_id: u64, voter: Address, vote: Vote, weight: i128)
+gov / final     → (proposal_id: u64, state: ProposalState)   # Passed | Rejected
+gov / exec      → (proposal_id: u64, admin: Address)
+gov / cancel    → (proposal_id: u64, admin: Address)
+gov / quorum    → (proposal_id: u64, old_quorum: i128, new_quorum: i128)
+gov / admin     → (old_admin: Address, new_admin: Address)
+gov / paused    → admin: Address
+gov / unpause   → admin: Address
+
+# Token
+token / init    → (admin: Address, supply: i128)
+token / xfer    → (from: Address, to: Address, amount: i128)
+token / approve → (owner: Address, spender: Address, amount: i128)
+token / mint    → (admin: Address, to: Address, amount: i128)
+token / burn    → (admin: Address, from: Address, amount: i128)
+token / admin   → (old: Address, new: Address)
+```
+
+---
+
+## Notes for Off-Chain Indexers
+
+- Filter governance events by first topic `"gov"`; token events by `"token"`.
+- `vote` in `gov/voted` and `state` in `gov/final` are Soroban enums — deserialise as `ScVal::Symbol`.
+- Self-transfers (`from == to`) return `Ok(())` without an event — consistent with SEP-41.
+- All amounts are raw `i128` base units (7 decimal places for CVT).