Mok Tan, the senior audit associate, of Mahen & Associate was assigned to perform the financial statements audit of Gondela Sdn Bhd (Gondela) for the year ended 31 December 2021. Moks audit work is primarily designed to obtain evidence that will provide a reasonable assurance to the shareholders of Gondela and to ensure that financial statements of Gondela are fairly presented in accordance with the applicable approved accounting standard in Malaysia. He was concerned about the sufficient appropriate evidence on events and transaction of Gondela Sdn. Bhd., that occur after 31 December 2021

Describe the two types of subsequent event and explain the responsibilities of auditors with regards to subsequent events in the context of ISA 560.