ISA 560 — Subsequent Events
ISA 560 is an international pronouncement addressing auditor responsibilities relating to events after the financial-statement date and facts learned after the report date. It addresses events occurring between the financial-statement date and the auditor’s report and facts becoming known after that report. Responsibilities differ according to when the auditor becomes aware of a fact and whether the statements have been issued.
Worked example
Before signing, the auditor assesses a legal settlement that provides evidence of a year-end obligation.
Common mistake
Do not assume the auditor has the same active search duty after the report date as before it.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Supporting | September 2026–June 2027 |
| ACCA | AAA (INT) | Supporting | September 2026–June 2027 |