Chapter III: Statutory audits

The professional practice standard relating to events subsequent to the end of the financial year, approved by the Minister of Justice, is shown below: NEP-560 Events after the end of the financial year Introduction 01. Between the balance sheet date and the date of approval of the financial statements, the statutory auditor may identify events that require accounting treatment or disclosure to the body called upon to approve the financial…

The professional practice standard relating to the statutory auditor’s reports on the annual and consolidated financial statements, approved by the Minister of Justice, is set out below: NEP-730 Accounting changes Introduction 01. The comparability of the accounts is ensured by the consistency of the presentation of the accounts and the valuation and accounting methods, which may only be changed in accordance with the applicable accounting standards. 02. By convention in…

The professional practice standard relating to the audit of the opening balance sheet of the first financial year certified by the statutory auditor, approved by the Minister of Justice, is shown below: . NEP-510. Audit of the opening balance sheet of the first financial year certified by the statutory auditor Introduction 01. When the statutory auditor intervenes in respect of the first year of his mandate, he shall verify that…

The professional practice standard relating to information on previous financial years, approved by the Minister of Justice, is shown below: PROFESSIONAL PRACTICE STANDARD CONCERNING INFORMATION RELATING TO PREVIOUS FINANCIAL YEARS Introduction 1. The indication of information relating to previous financial years in the accounts for the past financial year is provided for by legal and regulatory texts. 2. The purpose of this standard is to define the audit procedures that…