Our senses often receive conflicting multisensory information, which our brain reconciles by adaptive recalibration. A classic example is the ventriloquism aftereffect, which emerges following both cumulative (long-term) and trial-wise exposure to spatially discrepant multisensory stimuli. Despite the importance of such adaptive mechanisms for interacting with environments that change over multiple time scales, it remains debated whether the ventriloquism aftereffects observed following trial-wise- and cumulative exposure arise from the same neurophysiological substrate. We address this question by probing electroencephalography recordings from healthy humans (both sexes) for processes predictive of the aftereffect biases following the exposure to spatially offset audio-visual stimuli. Our results support the hypothesis that discrepant multisensory evidence shapes aftereffects on distinct time scales via common neurophysiological processes reflecting sensory inference and memory in parietal-occipital regio...