Clouddatax
Handshake across a table after a business meeting

Engagement

First-year and opening balance support

Extra planning and opening-balance work when you change auditors or undergo your first full statutory audit.

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Who it is for

Companies appointing a new auditor, or entities moving from compiled statements to a first independent audit.

What you receive

Opening balances examined with appropriate procedures, predecessor communications handled carefully, and a clearer path into the recurring annual audit cycle.

Scope of this engagement

Included

  • Coordination with predecessor auditors where permitted
  • Opening balance procedures on material accounts
  • Extra planning time for undocumented estimates and policies
  • Guidance on what your team should prepare differently next year

Not included

  • Reconstructing years of missing source documents from scratch
  • Legal advice on auditor change disputes

How the work unfolds

  1. 1

    Handover and access

    We request prior working paper access and identify accounts needing opening procedures.

  2. 2

    Opening balance work

    Material opening figures are tested so the current period opinion rests on solid ground.

  3. 3

    Forward plan

    We document lessons for next year’s close so the second year is lighter.

Timeline

Add 2–4 weeks beyond a recurring audit schedule in most cases.

Delivery

Mix of on-site and remote; Kaohsiung office meetings available for planning.

Fee basis

First-year engagements are quoted separately to reflect opening balance effort.

Preparation

Prior financial statements, trial balances, and contact details for the predecessor firm when applicable.

Changing auditors this year?

Write to us with your year-end and prior auditor details. We will explain the opening balance steps early.

Request an estimate