Which of the following is NOT a matter to be considered in respect of the opening balances of Crate Ltd?

Your firm has recently been appointed as auditor to Crate Ltd for the year ending 31 October 2012. This is the first year of audit for Crate Ltd as it fell below the statutory audit exemption limits for the year ended 31 October 2011, which was the company’s first period of trading.

Which of the following is NOT a matter to be considered in respect of the opening balances of Crate Ltd?
A . Check opening balances correctly brought forward
B . Check appropriateness of accounting policies or their consistent application from year to year
C . Assess whether financial statements need amendment
D . Ensure disclosure of lack of audit in prior year in financial statements

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Answer: C