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Hi Sir
Can u guide me on this new changes please. Thank u
The sequence of the audit report is as follows:
Title
Addressee
Opinion (Unqualified, Adverse, Disclaimer)
Basis for opinion (Unqualified, Adverse, Disclaimer)
Material uncertainty related to going concern (where applicable)
Key audit matters section (always in audit report right) if no KAM state no KAM if there are just list down. Only for listed company
Emphasis on matter (where applicable)
Other matters(OM) paragraph (under ISA 706) / Other information(OI) section (under ISA 720) – where applicable these two terms (OM) & (OI) can use interchangeably right??
Management responsibility
Auditor Responsibilities
Partners name (applicable for listed company only)
Signature
Auditor address
Date
Dear Mike,
Please explain me when we must use other matter paragraph and when other information section?
When there is some matter that needs to be brought to the attention of the reader but the matter is NOT part of the financial statements
For example, it’s a material misstatement in the Chair’s report that is inconsistent with a figure that IS within the financial statements
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