4 (a) The purpose of ISA 510 ‘Initial Engagements – Opening Balances’ is to establish standards and provide guidance
regarding opening balances when the financial statements are audited for the first time or when the financial
statements for the prior period were audited by another auditor.
Required:
Explain the auditor’s reporting responsibilities that are specific to initial engagements. (5 marks)
正确答案：4 JOHNSTON CO(a) Reporting responsibilities specific to initial engagementsFor initial audit engagements, the auditor should obtain sufficient appropriate audit evidence that:■ the opening balances do not contain misstatements that materially affect the c
