[Yahmon]

More from the financial perspective

FAR 8/20/15 - Passed 77
AUD 10/10/15 -
BEC TBD
REG TBD

[Joetse]

Yes, but more from the procedural perspective in how it may effect the opinion and required action and responsibilities per GAAS. If information came to your attention, you have to communicate with management about it and request they consider the effect on the F/S. Then you evaluate their response and how it may effect the F/S. If the subsequent info materially affects current or prior opinions, theres other reporting requirements. If it's near report date and before issue date, there's extra rules. So it's all that stuff. 2 most important things are – documentation and communication. Auditor has no responsibility for subsequent events after date report is issued. From financial perspective, it's probably just FASB “Subsequent Events Codification (“ASC”) 855-10-20” and “Uncertainties” and “Contingencies”

[Author]

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