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Subsequent Events

Events occurring between the balance sheet date and the date the financial statements are approved, which may require adjustment or disclosure.

Related terms

  • Statutory Registers

    The registers a company is legally required to maintain under the Companies Act — of members, directors, charges, related party contracts and others — distinct from its accounting books.

  • Stock Audit

    A physical verification and valuation exercise over a company's inventory, often performed by a third party at a bank's request as a condition of working capital finance.

  • Substantive Procedures

    Audit procedures designed to detect material misstatements at the assertion level directly — tests of detail and substantive analytical procedures.

  • Tax Audit (Section 44AB)

    A mandatory audit under the Income Tax Act for businesses and professionals above specified turnover or receipts thresholds, reported in Form 3CA/3CB and Form 3CD, distinct from the statutory audit under the Companies Act.

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