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Standards on Auditing prescribe the fundamental principles of audit to be followed by auditors in their audit engagements. It is essential that auditors must understand and implement these Standards appropriately in their audit engagements. The Implementation Guides to Standards on Auditing are important resource for auditors to understand the specific requirements of these Standards and help them in effective implementation of these Standards.

The Auditing and Assurance Standards Board (AASB) of ICAI has been issuing a number of Implementation Guides to various Standards on Auditing for the benefit of auditors. I am happy that the Board has brought out this Implementation Guide to Standard on Auditing (SA) 560, “Subsequent Events” which is quite comprehensive and written in simple language in the form of frequently asked questions (FAQs).

I wish to compliment CA. G. Sekar, Chairman, CA. Shriniwas Y. Joshi, Vice Chairman and other members of the Auditing and Assurance Standards Board for their efforts in bringing out this Implementation Guide and taking various other initiatives to help the members in effective implementation of Standards on Auditing.

I am sure that the members and other interested readers would find the Implementation Guide immensely useful.

CA. Nihar N. Jambusaria
President, ICAI

December 29, 2021
New Delhi

Download Implementation Guide to Standard on Auditing (SA) 560 Subsequent Events

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June 2024