[section separator="true"]
[section-item 9]
[row]
[column 12]
[toc-this]
Principles
Opinions on accounts/ transactions as a whole
Both the opinion on the reliability of the accounts and on the legality and regularity of the underlying transactions should be given on the accounts of the auditee as a whole and the underlying transactions as a whole. The corollary is that the opinion is not given on part of the annual accounts or part of the underlying transactions.
Moreover, if the auditor expresses [link new-window title="an%20adverse%20opinion%20or%20disclaims%20an%20opinion" link="%2Faware%2FGAP%2FPages%2FCA-FA%2FReporting%2FModified-opinion.aspx" /]
on the annual accounts or the underlying transactions as a whole, (s)he should not express an unmodified opinion on one or more specific elements, accounts, items or transactions of the annual accounts or the underlying transactions in the same report and with respect to the same [link new-window title="applicable%20financial%20reporting" link="%2Faware%2FFA%2FPages%2FConcepts%2FFinancial-reporting-framework.aspx" /]
or legal and regulatory framework (a “piecemeal opinion").
Instructions
Separate conclusions on legality and regularity
With regard to the opinion on the legality and regularity of the underlying transactions for the EU budget, separate conclusions are presented for individual MFF headings, as this provides better decision-making information for the [a-glossary term="Budgetary%20authority"]budgetary authority[/a-glossary]
and such conclusions are supported by sufficient audit work in each area. This approach is supported by [link new-window title="Article%20287%20(1)%20of%20TFEU" link="https%3A%2F%2Feur-lex.europa.eu%2Flegal-content%2FEN%2FTXT%2FPDF%2F%3Furi%3DCELEX%3A12012E%2FTXT%26from%3DEN%23page%3D124" icon="external-link" /]
which allows for [link title="specific%20assessments" link="%2Faware%2FCA%2FPages%2FReporting%2FSpecific-assessments.aspx" /]
. In addition, [link new-window title="ISSAI%204000" link="https%3a%2f%2fwww.issai.org%2fwp-content%2fuploads%2f2019%2f08%2fISSAI-4000-Compliance-Audit-Standard.pdf" icon="external-link" /]
allows ECA to define its forms of reporting according to its mandate.
[/toc-this]
[/column]
[/row]
[/section-item]
[section-item 3]
[row]
[column 12]
[panel panel-style="boxed" title="Related%20documents" icon="book" class="ref-panel"]
[standards]
[link new-window title="ISSAI%204000" link="https%3a%2f%2fwww.issai.org%2fwp-content%2fuploads%2f2019%2f08%2fISSAI-4000-Compliance-Audit-Standard.pdf" /]
[link new-window title="ISA%20700%2F11" link="https%3a%2f%2fwww.ifac.org%2fsystem%2ffiles%2fpublications%2ffiles%2fIAASB-2020-Handbook-Volume-1.pdf%23INTERNATIONAL%2520STANDARD%2520ON%2520AUDITING%2520700%23page%3D4" /]
[link new-window title="ISA%20705%2F15" link="https%3a%2f%2fwww.ifac.org%2fsystem%2ffiles%2fpublications%2ffiles%2fIAASB-2020-Handbook-Volume-1.pdf%23INTERNATIONAL%2520STANDARD%2520ON%2520AUDITING%2520705%2520(REVISED)%23page%3D6" /]
[/standards]
[rules]
[link new-window title="Art%20287%20(1)%20TFEU" link="https%3A%2F%2Feur-lex.europa.eu%2Flegal-content%2FEN%2FTXT%2FPDF%2F%3Furi%3DCELEX%3A12012E%2FTXT%26from%3DEN%23page%3D124" /]
[/rules]
[/panel]
[/column]
[/row]
[row]
[column 12][/column]
[/row]
[row]
[column 12]
[toc fixed="true" selectors="h2%2Ch3" class="basic-toc" /]
[/column]
[/row]
[/section-item]
[/section]
