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The audit of financial statements is conducted in compliance with the Norms of a statutory auditor issued by the National Council of Statutory Auditors for audits conducted in compliance with legal provisions effective in Poland.
In many cases during the audit, which is particularly connected with reporting to a dominant unit, the audit is conducted not only in compliance with the said norms but also in compliance with the International Accounting Standards (IAS).
In Poland, lists of statutory auditors authorized to sign opinions and reports from audits as well as subjects authorized to conduct these audits are kept by the National Chamber of Statutory Auditors (NCSA). As at the end of September 2006, 3700 persons in Poland were authorized to act as statutory auditors and ca.1900 subjects were eligible for conducting audits, despite the fact that over 3100 subjects had been reported (according to successively given numbers). However, some had already been crossed off the list, since the list is open, which means that new subjects acquiring the right to act as statutory auditors may be entered onto the list while subjects renouncing on their activity or failing to comply with the provisions of the Act on Statutory auditors and their self-government may be removed therefrom.
The opinion from the audit is a standard document containing paragraphs which are required to be present in each and every opinion. This is determined by the previously mentioned norms and allows for the comparability of issued opinions. Such an opinion, beside being submitted to the court register, is then published together with the financial statement.
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