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

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.

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.

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