ASA 510 - Initial Engagements – Opening Balances - April 2006
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© Commonwealth of Australia 2007. The text, graphics and layout of this compiled Auditing Standard are protected by Australian copyright law and the comparable law of other countries. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source. Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to the Principal Executive, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne Victoria 8007. Otherwise, no part of the compiled Auditing Standard may be reproduced, stored or transmitted in any form or by any means without the prior written permission of the AUASB except as permitted by law.
ISSN 1833-4393
CONTENTS
COMPILATION DETAILS
AUTHORITY STATEMENT
Paragraphs
Application.................................. 1-2
Operative Date................................ 3
Introduction.................................. 4-6
Audit Procedures.............................. 7-13
Audit Conclusions and Reporting.................... 14-20
Conformity with International Standards on Auditing...... 21
Appendix 1: Examples of Modified Auditor’s Reports
compilation details
Auditing Standard ASA 510 Initial Engagements - Opening Balances as Amended
This compilation takes into account amendments up to and including 27 June 2007 and was prepared on 27 June 2007 by the staff of the Auditing and Assurance Standards Board (AUASB).
This compilation is not a separate Auditing Standard made by the AUASB. Instead, it is a representation of ASA 510 (April 2006) as amended by an other Auditing Standard which is listed in the Table below.