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Wiley Practitioner's Guide to GAAS 2023, 2nd Edition
book

Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

by Joanne M. Flood
April 2023
Intermediate to advanced content levelIntermediate to advanced
1056 pages
34h 59m
English
Wiley
Content preview from Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

23AU-C 560 Subsequent Events and Subsequently Discovered Facts

SCOPE

AU-C 560 provides guidance on subsequent events and subsequently discovered facts for:

  • Current auditors and
  • Predecessor auditors when reissuing a report on previously issued financial statements presented on a comparative basis.

(AU-C 560.01)

DEFINITIONS OF TERMS

Source: AU-C 560.07. For definitions related to this standard, see Appendix A, “Definitions of Terms”: Date of the auditor's report, Date of the financial statements, Subsequent events, Subsequently discovered facts.

OBJECTIVES OF AU-C 560

The objectives of the auditor are to:

  1. obtain sufficient appropriate audit evidence about whether events occurring between the date of the financial statements and the date of the auditor's report that require adjustment of, or disclosure in, the financial statements are appropriately reflected in those financial statements in accordance with the applicable financial reporting framework; and
  2. respond appropriately to facts that become known to the auditor after the date of the auditor's report that, had they ...
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Publisher Resources

ISBN: 9781394152704Purchase Link