Adjustments to opening balance of shareholders' equity

Hi.

I am looking into a company which does really poor quarterly reporting - resulting in various adjustments to the balance sheet and reclassification of balance sheet items every year when the audited figures in the annual report are released.

One peculiar one is a post in the statement of changes in shareholders equity called "Opening balance adjustments". For some reason, this line item has each year resulted in the shareholders' equity balance not being equal the closing balance in the previous year (which is always the case in the other companies I follow).

Any thoughts on how normal this is, is it OK, why do companies do this, etc.?

Thanks in advance for thoughts.