ASA 510 - Initial Engagements – Opening Balances - April 2006
EXAMPLES OF MODIFIED AUDITOR’S REPORTSEXAMPLES OF MODIFIED AUDITOR’S REPORTS
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EXAMPLES OF MODIFIED AUDITOR’S REPORTS
Under paragraph 14 of this Auditing Standard, when the auditor is unable to obtain sufficient audit evidence concerning opening balances the auditor’s report needs to include:
(a) a qualified opinion;
(b) a disclaimer of opinion; or
(c) an opinion which is qualified or disclaimed regarding the results of operations and unqualified regarding financial position.
Example 1 illustrates a qualified opinion (a) above and Example 2 illustrates an opinion which is qualified or disclaimed regarding the results of operations and unqualified regarding financial position (c) above. For illustrations of modified opinions regarding (b) above, see ASA 701.