Later Rory's investments are seen as a mistake (5)

I believe the answer is:

error

I'm a little stuck... Click here to teach me more about this clue!

'a mistake' is the definition.
(I know that mistake can be written as error)

'later rory's investments are seen' is the wordplay.
'ERROR' is hidden within the letters.
But, I'm unsure how the hidden word is indicated.

'as' is the link.

Can you help me to learn more?

(Other definitions for error that I've seen before include "Faulty judgment" , "Slip, mistake" , "heresy" , "Miscalculation" , "Boo-boo" .)

I've seen this clue in the Sydney Morning Herald.

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