Amendments to ASA 560Amendments to ASA 560

Amendments to ASA 560

1. Existing paragraph A9 is amended to read as follows:

In enquiring of management and, where appropriate, those charged with governance, as to whether any subsequent events have occurred that might affect the financial report, the auditor may enquire as to the current status of items that were accounted for on the basis of preliminary or inconclusive data and may make specific enquiries about the following matters:

 Whether new commitments, borrowings or guarantees have been entered into.

 …

 Whether any unusual accounting adjustments have been made or are contemplated.

 Whether any events have occurred or are likely to occur that will bring into question the appropriateness of accounting policies used in the financial report, as would be the case, for example, if such events call into question the appropriateness of management’s use of thevalidity of the going concern basis of accounting in the preparation of the financial reportassumption.

 Whether any events have occurred that are relevant to the measurement of estimates or provisions made in the financial report.

 …