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SA 560
According to SA 560 that subsequent events are those that occur after balance sheet date but before the date of signing the Balance Sheet by BOD.This is what my coaching sir taught me.I have a doubt that -Is the date of signing of Balance Sheet same as the date of approval of F.Statement by BOD or date of signing of Balance sheet same as the date of issue of F.Statement to outsiders,bcoz in SA its written subsequent events are those between balance sheet date but before date of issue of F.Statement to outsiders(3rd parties).
Replies (3)
yes, date of signing of financial statements and date of approval are different. Date of approval and issue of financial statement may be same. but usually it will be different.
How is it possible?
The f.statement are approved and signed by BOD on board meeting(BM) and on this day even auditor signs audit report, then these documents i.e auditor report,director report and f.statements are issued/sent to shareholders along with notice of AGM atleast 21 days before AGM.
The f.statement are approved and signed by BOD on board meeting(BM) and on this day even auditor signs audit report, then these documents i.e auditor report,director report and f.statements are issued/sent to shareholders along with notice of AGM atleast 21 days before AGM.
Are you agree with that the auditor sign the report when it is signed by bod without any enquiries
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