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Executive Summary:

ISSAI 1560 – Subsequent Events


This Practice Note provides supplementary guidance on ISA 560 – Subsequent Events

ISSAI Category:

Level 4: General Auditing Guidelines - General Auditing Guidelines on Financial Audit

Target Group:

Public sector external auditors


ISA 560 deals with the auditor’s responsibilities relating to subsequent events in an audit of financial statements. It is related to ISA 700 and 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.

Scope - Content:

The Practice Note provides additional guidance for public sector auditors related to

  • Events occurring between the date of the financial statements and the date of the auditor's report and
  • Facts which become known to the auditor after the financial statements have been issued
Author - Committee:

INTOSAI Professional Standards Committee – Financial Audit Subcommittee


Approved at XXth Congress of INTOSAI, Johannesburg 2010


Related Documents - Executive Summaries:
Related Documents - ISSAI Full Versions:
Related Documents - Others:

ISA 560 is applicable to auditors of public sector entities in their role as auditors of financial statements

ISA 700 – Forming an Opinion and Reporting on Financial Statements

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