Fassbender read the part of The Dude (originally played by Jeff Bridges), while Lawrence took on Julianne Moore's role as Maude, reported Variety.
Munn played Bunny, Maude's stepmother, while Oswalt was John Goodman's Walter.
At the event, which was part of the Just For Laughs festival, Fassbender dressed for the occasion - wearing The Dude's signature bathrobe.
He also reportedly smoked cigarettes on stage and drank a cocktail during the reading.