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1. for auditor responsibility for opening balance, do auditors audit the opening balance again ? if the audit opinion was modified previously ?
2. Further, may i know what are the other auditor responsibilities for opening balance ?
3. if auditor considers that there is non-compliance, TCWG and appropriate authority can be informed authority breaching confidentiality duty. Is it correct ?
4. (connected with number 3), what if auditor is not sure whether it’s non-compliance ? what do auditor usually do ? do they seek for legal advice and then confirm if it is non-compliance, inform TCWG and appropriate authority however if not non-compliance, then just report to TCWG ?
1. No – consider, for example, it would make no sense to carry out a debtor’s circularisation on last year’s balances and you can’t go back in time to attend a stocktake. If “unhappy” about the opening position it would have potential consequences for the current year’s audit opinion.
2. See paras 5-13 for requirements https://www.ifac.org/system/files/downloads/a025-2010-iaasb-handbook-isa-510.pdf (it’s one of the shorter standards)
3/4. I don’t understand what you are asking.
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