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5.3 Implications for the auditor’s report

 If there is an inability to obtain sufficient appropriate evidence over the opening
balances, a qualified or disclaimer of opinion will be issued.

 If the opening balances are materially misstated or the accounting policies have
not been consistently applied, a qualified or adverse opinion will be issued.

 If a prior year adjustment has been put through to correct material
misstatements arising in the prior year, an unmodified opinion can be issued.
An emphasis of matter paragraph will be needed to draw attention to the
disclosure note explaining the reason for the restatement of the opening
balances.

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