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Audit Procedures in regards to the "Opening Balances"

This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.

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November 23, 2016 at 2:16 pm #350979
Anirudh
Participant
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Hi Dear Mike,
Our firm has recently been appointed as Auditor to ABC.
What should be the recommended Audit procedures in respect of:
Opening Balances
Many Thanks Sir
November 23, 2016 at 4:06 pm #351017
MikeLittle
Keymaster
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This is F8 stuff. Go back and read the F8 notes and listen to Ken’s lectures
In the most extreme situation, the auditor would re-perform last year’s audit … but don’t expect your new client to be bubbling with enthusiasm when you break that news to him / her
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