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Section 3820 - Subsequent events

Effective date:

January 1, 2011

Published by the AcSB:

December 2009


This Section establishes recognition and disclosure standards for events subsequent to the financial statement date. Financial statements are prepared to reflect the financial position at a particular date and the operating results and cash flows for a period ended on that date. However, events occurring after the financial statement date may indicate a need to adjust items or to make specific disclosures in those statements. Therefore, in preparing financial statements, the implications and financial effects of subsequent events would be considered.

History of Section 3820




December 2009

Part II of the CPA Canada Handbook issued

Effective for fiscal years beginning on or after January 1, 2011.

October 2011

Annual improvements

Paragraph .07A has been added to clarify the meaning of the date of completion of financial statements. Effective for fiscal years beginning on or after January 1, 2011.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

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.