PSA-560-Redrafted

PSA-560-Redrafted - Assurance Standards B Auditing and...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Assurance Standards B Philippine Standard on Auditing 560 (Redrafted) SUBSEQUENT EVENTS Auditing and Assurance Standards Council
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
PSA 560 (Redrafted) 1 PHILIPPINE STANDARD ON AUDITING 560 (REDRAFTED) SUBSEQUENT EVENTS (Effective for audits of financial statements for periods beginning on or after December 15, 2009) CONTENTS Paragraph Introduction Scope of this PSA . .............................................................................................. 1-2 Effective Date . .................................................................................................... 3 Objectives ........................................................................................................... 4 Definitions .......................................................................................................... 5 Requirements Events Occurring Between the Date of the Financial Statements and the Date of the Auditor’s Report . ......................................................... 6-9 Facts Which Become Known to the Auditor After the Date of the Auditor’s Report but Before the Date the Financial Statements are Issued. ................ 10-13 Facts Which Become Known to the Auditor After the Financial Statements have been Issued . ..................................................................... 14-17 Application and Other Explanatory Material Introduction . ........................................................................................................ A1 Definitions. ........................................................................................................... A2-A5 Events Occurring Between the Date of the Financial Statements and the Date of the Auditor’s Report . ....................................................... A6-A10 Facts Which Become Known to the Auditor After the Date of the Auditor’s Report but Before the Date the Financial Statements are Issued. ............ A11-A16 Facts Which Become Known to the Auditor After the Financial Statements have been Issued . ................................................................... A17-A18 Acknowledgment Philippine Standard on Auditing (PSA) 560 (Redrafted), “Subsequent Events,” should be read in conjunction with [proposed] PSA 200 (Revised and Redrafted), “Overall Objective of the Independent Auditor, and the Conduct of an Audit in Accordance with Philippine Standards on Auditing.”
Background image of page 2
PSA 560 (Redrafted) 2 Introduction Scope of this PSA 1. This Philippine Standard on Auditing (PSA) deals with the auditor’s responsibilities relating to subsequent events in an audit of financial statements. (Ref: Para. A1) 2. Financial statements may be affected by certain events that occur after the date of the financial statements. Many financial reporting frameworks specifically refer to such events. 1
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 14

PSA-560-Redrafted - Assurance Standards B Auditing and...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online