Below is the list of typical procedures performed over the subsequent events on audit engagements:

1| In the period from 14 to 2 days before the expected audit report date, obtain a copy of the most recent trial balance sheet and analyze whether significant changes in the account balances evidence of events that require either adjustment or disclosure in the audited financial statements.

2| On the date of report issue, confirm with the management team (either via inquiry and representation letter or by means of the representation letter alone) whether they are aware of any subsequent events not reflected in the financial statements and take the appropriate actions if such events took place by obtaining support for such events and evaluating the impact on the financial statements. Include the results of inquiries in the management representation letter that is required to be signed on the same date as the audit report.