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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Subsequent event review
Sir, what are the major objectives of subsequent event review in AA?
There are two major objectives:
1) To obtain sufficient, appropriate audit evidence that events occurring BETWEEN the date of the financial statements and the date of the auditor’s report have been properly accounted for (i.e. adjusted if adjusting or disclosed if material and non-adjusting).
2) To respond appropriately to facts that become known only AFTER the date of the auditor’s report.
