Appendix No. 19

to the Order of the Ministry of Finance of the Russian Federation of January 9, 2019 No. 2n

The international standard of audit 510 "The audit engagements which are carried out for the first time: remaining balance at the beginning of the period"

MCA 510 "The audit engagements performed for the first time: remaining balance at the beginning of the period" should be considered together with MCA 200 "Main objectives of the independent auditor and carrying out audit according to International standards of audit".

Introduction

Scope of this standard

1. This International Standard of Audit (ISA) establishes the auditor's obligations concerning remaining balance at the beginning of the period when carrying out the audit engagements performed for the first time. In addition to the amounts specified in the financial reporting, remaining balance at the beginning of the period includes number of the line items which were existing at the beginning of the period and subject to disclosure such as, for example, contingent and contractual commitments. If the financial reporting contains comparative financial information, then the requirements and instructions provided by MCA 710 <1> are also applied. Additional requirements and instructions concerning actions which the auditor prior to the beginning of the audit engagements performed for the first time shall undertake contain in MCA 300 <2>.

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<1> MCA 710 "Comparative information - comparable indicators and the comparative financial reporting".

<2> MCA 300 "Planning of financial records audit".

The effective date

2. This standard becomes effective concerning financial records audit for the periods beginning on December 15, 2009 or after this date.

Purpose

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