The auditing standard on subsequent events provide the basic principles and procedures as to the auditor‘s responsibilities and deal with: Dating the auditor‘s report, Audit procedures., Events after the date of the audit report..Required: In the context of subsequent events, what is the significance of the data of the auditor‘s report

You are required to discuss the significance of the date of the auditor‘s report in the context of subsequent events
The auditor should perform procedures designed to obtain sufficient appropriate audit evidence that all events up to the date of the auditor‘s report that may require disclosure in the financial statements have been identified. The auditor‘s responsibility extends to the date on which he signs his report and he must obtain reasonable assurance that the effect of all material subsequent events are either disclosed or accounted for in the financial statements. The date of the auditor‘s report is therefore important because it determines the period where the auditor is responsible to perform audit procedures in respect of post balance sheet events.
After the date of the auditor‘s report the directors are responsible for informing the auditor of any post balance sheet events that may require to be considered



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