Question

According to SA 560 (Subsequent Events), what are "subsequent events"?

Q: Answer-According to SA 560 (Subsequent Events), what are 'subsequent events'?

SA 560 defines subsequent events as events that occur between the balance sheet date and the date of the auditors report, as well as facts that come to the auditors knowledge after the date of the auditors report.

A Events occurring only after the audit report is signed

B Events occurring between the date of the financial statements and the date of the auditor's report, and facts that become known to the auditor after the date of the auditor's report

C Events occurring during the financial year that were audited previously

D Operational budget changes planned for the upcoming financial year

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