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Subsequent Events Audit Procedure (SA 560) — ICAI Audit Working Paper

The subsequent events audit procedure (sa 560) working paper from ICAI AASB's Audit Working Paper Templates (June 2023). Pre-stamped with your firm letterhead, editable in Word.

Free · ICAI AASB (June 2023)
Updated 28 May 2026
Source
ICAI AASB (June 2023)
Chapter
4. Other Procedures
Section
4.3
Format
Microsoft Word (.docx)
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Your firm — letterhead
Appears at the top of the document as the audit firm letterhead.
Used as the letterhead block.
Engagement details
The client and period this document is for.
The financial year-end this engagement covers, e.g. 31 March 2026.
What’s inside

An excerpt from the template.

The purpose of this work paper is to document the procedures adopted in checking for subsequent events as per Standard on Auditing (SA) 560 issued by ICAI, document key observations, if any and, form conclusions as to the adjusting or non-adjusting nature of the event in order to conclude that if any event needs to be adjusted or disclosed in the financial statements ended 31st March, 20xx.

To understand the subsequent events that could have an impact on the financial statements for the period ended March 31, 20xx.

The procedures planned in respect to check the above are listed down below:

  • Examine the minutes of meetings of Board and members.
  • Enquire whether there are new litigations, acquisition of new assets, etc.
  • Obtain written representations that all events occurring subsequent to the period end which need adjustment or disclosure have been adjusted or disclosed.
↑ Excerpt only — the full template is what you download as Word
About this template

What you’re downloading, and when to use it.

This template follows the format published by the Institute of Chartered Accountants of India (ICAI) in the AASB Audit Working Paper Templates (June 2023), the authoritative reference for Indian statutory-audit documentation. Fill in your firm’s letterhead and the engagement details on the form above, click Download Word file, and you’ll get a fully formatted .docx ready to use.

Everything is generated in your browser and on a stateless API endpoint — no account, nothing stored on our servers. We’ll ask for a work email once before your first download so we can send you the file and the occasional relevant update; after that, downloads on this device are instant. Edit freely in Word, Google Docs or Pages before sending to your client.

Common questions

FAQs.

What are the two categories of subsequent events under SA 560?
Adjusting events — where conditions existed at the balance sheet date, e.g. a court case decided afterward confirms a liability that already existed — and non-adjusting events, which arose after the balance sheet date and are disclosed if material, not recognised in the financials.
Until when does the auditor's active responsibility for subsequent events run?
Up to the date of the auditor's report — SA 560 requires procedures covering the period between the balance sheet date and the report date. After signing, the obligation shifts to responding only if facts become known before the financial statements are issued.
What's a typical subsequent-events procedure performed?
Reviewing minutes of board and management meetings held after year-end, inquiring of management about known or possible litigation and claims, and reviewing the latest available management accounts or bank statements for the subsequent period.
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