I have various calendars from iCloud and Google and it's very often that an event will be deleted from Google calendar but the iPhone will still show it. The same calendar is on iCal on my Mac and it shows it correctly there. If it doesn't, I can ⌘ + R or ⇧ + ⌘ + R to update it.
Maybe I'm missing the place or configuration to do the same on the iPhone calendar application.