ASA 560 - Subsequent Events - April 2006
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Main Features
This Auditing Standard:
(a) requires the auditor to consider the effect of subsequent events on the financial report and on the auditor’s report;
(b) establishes mandatory requirements and provides explanatory guidance on the auditor’s responsibility regarding events occurring up to the date of the auditor’s report;
(c) establishes mandatory requirements and provides explanatory guidance on the auditor’s responsibility regarding facts discovered after the date of the auditor’s report but before the financial report is issued; and
(d) establishes mandatory requirements and provides explanatory guidance on the auditor’s responsibility regarding facts discovered after the financial report has been issued.