Appendix No. 24

to the Order of the Ministry of Finance of the Russian Federation of January 9, 2019 No. 2n

International standard of audit 560 of "Event after reporting date"

The International Standard of Audit (ISA) 560 "Events after reporting date" should be considered together with MCA 200 "Main objectives of the independent auditor and carrying out audit according to International standards of audit".

Introduction

Scope of this standard

1. This International Standard of Audit (ISA) establishes the auditor's obligations concerning events after reporting date when carrying out financial records audit. In it the questions relating to the auditor's obligations concerning the other information obtained after date of audit opinion which are considered in MCA 720 (reviewed) <1> are not considered. However such other information can lead to recognition of events after reporting date which are considered in this standard (see Item A 1).

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<1> MCA 720 (reviewed) "The auditor's obligations relating to other information".

Events after reporting date

2. The certain events taking place after reporting date can exert impact on the financial reporting. Within many concepts of preparation of the financial reporting such events are considered especially <2>. According to such concepts of preparation of the financial reporting events of two types are usually marked out:

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<2> For example, in the International accounting standard (IAS) 10 "Event after the accounting period" the procedure for reflection in the financial reporting of events (both favorable, and adverse) which took place during the period between the reporting date (which is referred to as in IFRS (IAS) with "end date of the accounting period") and date of approval of the financial reporting to release is considered.

(a) the events testimonial of circumstances which existed on reporting date;

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