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متابعة

Why is it essential for auditors to do an opening balance test for initial audit engagements?

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تاريخ النشر: 2017/05/22
Anas Odeh
من قبل Anas Odeh , Head of Budgeting and Planning , Finance Department - Government of Ras Al Khaimah

As the financial data is accumulated in the balance sheet the auditor in case he did not do the previous year audit he/she must confirm the opening balances or refer to the predecessor auditor, or if he/she could not then a disclaimer of an opinion might be necessary in the auditors report, other wise he is carrying out responsibility about the fairness of the financial statements including the opening balances, from previous year, as the auditor is responsible up to the issuance of the audit report.

Nouh El Moctar
من قبل Nouh El Moctar , Statistique , L'Office national de la statistique

To verify the progress of the indicators

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