STATEMENT ON AUDITING PROCEDURE
Subsequent Discovery of Facts Existing at the Date Of the Auditor's Report
1. Previous pronouncements of the Committee on Auditing Procedure have dealt with the auditor's reporting responsibility (a) when the effects of events or transactions known to have occurred prior to the balance sheet date are not reasonably determinable at the date of his report (Chapter 10 of Statement on Auditing Procedure No. 33) and (b) for events which occur after the balance sheet date but prior to the date of his report (Chapter 11 of Statement on Auditing Procedure No. 33). However, previous pronouncements have not dealt with situ-ations involving information which existed at the date of the auditor's report on the financial statements but of which the auditor then had no knowledge.
2. The purpose of this statement is to establish procedures to be followed by the auditor who, subsequent to the date of his report upon audited financial statements, becomes aware that facts may have existed at that date which might have affected his report had he then been aware of such facts.
3. Because of the variety of conditions which might be en-countered, some of the procedures in this statement are neces-
Issued by the Committee on Auditing Procedure American Institute of Certified Public Accountants
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