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CAS 560, Subsequent Events

Ef­fec­tive date:

Ef­fec­tive for au­dits of fi­nan­cial state­ments for pe­ri­ods end­ing on or af­ter De­cem­ber 14, 2010.


This Canadian Auditing Standard (CAS) deals with the auditor's responsibilities relating to subsequent events in an audit of financial statements. It does not deal with matters relating to the auditor's responsibilities for other information obtained after the date of the auditor's report, which are addressed in CAS 720. However, such other information may bring to light a subsequent event that is within the scope of this CAS.

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. Such financial reporting frameworks ordinarily identify two types of events:

(a)     Those that provide evidence of conditions that existed at the date of the financial statements; and

(b)     Those that provide evidence of conditions that arose after the date of the financial statements.

CAS 700 explains that the date of the auditor's report informs the reader that the auditor has considered the effect of events and transactions of which the auditor becomes aware and that occurred up to that date.

His­tory of Sec­tion CAS 560

There have been no amend­ments to CAS 560 since its date of is­sue.

Note: Our his­tory sum­mary does not take into ac­count con­se­quen­tial amend­ments made as the re­sult of other pro­jects.

Amendments under consideration

  • None

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.