… in fulfilling their responsibilities, and therefore this Auditing Standard applies. …

For current assets and liabilities, some audit evidence about opening balances may be obtained as part of the current period’s audit procedures.  For example, the collection (payment) of opening accounts receivable (accounts payable) during the current …

… This Auditing Standard applies to:  an audit of a financial …

… This Auditing Standard also applies, as appropriate, to an audit …

If the prior period’s financial report was audited by a predecessor auditor, the auditor may be able to obtain sufficient appropriate audit evidence regarding the opening balances by reviewing the predecessor auditor’s working papers.  Whether such a …

Initial audit engagement means an engagement in which either: The financial report for the prior period was not audited; or The financial report for the prior period was audited by a predecessor …

Predecessor auditor means the auditor from a different audit firm, who audited the financial report of an entity in the prior period and who has been replaced by the current …

For non‑current assets and liabilities, such as property, plant and equipment, investments and long‑term debt, some audit evidence may be obtained by examining the accounting records and other information underlying the opening balances.  In certain …

The nature and extent of audit procedures necessary to obtain sufficient appropriate audit evidence regarding opening balances depend on such matters as:  The accounting policies followed by the entity.  The nature of the account balances, classes of …

In the public sector, there may be legal or regulatory limitations on the information that the current auditor can obtain from a predecessor auditor.  For example, if a public sector entity that has previously been audited by a statutorily appointed …