Audit Procedures in regards to the "Opening Balances"

This topic has 1 reply, 2 voices, and was last updated 9 years ago by MikeLittle.

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November 23, 2016 at 2:16 pm #350979
Anirudh
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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
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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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