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Hi mike,
Is we need to include key audit matter beside emphasis on matter and other matter in the audit report?
May I know what is element and requirement will stated in key audit matter?
Thanks
Samko, I’m really not sure how to interpret your question!
An emphasis of matter is merely bringing to the attention of the reader some matter of such significance that the auditor feels should be specifically brought to the attention of the reader. The auditor is not in any way disagreeing with the amounts nor disclosures. So I’m not sure what you mean when you ask “Is we need to include key audit matter ……” I don’t believe that there IS a key audit matter (if I have interpreted your question correctly)
The above should answer also your second point
Hi mike,
Sorry that to make you confuse.
Recently, there are proposed ISA 706 (revised) has issued and mention that it had amended to clarify the relationship between emphasis of matter, other matter and key audit matter section in auditor report.
So, I am wondering under this newly revised, are we compulsory to provide key audit matter in auditor report? If so, what is the main element that we should include?
Thanks
Hi again
“proposed ISA 706 (revised) has issued” tells me that this is not in the syllabus – so I’ve just checked and I’m correct! It’s not in your syllabus.
Now, if for your own interest, you wish to know more, then here’s a link!
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