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Hi Mike,
Just out of curiosity, how/where would the positioning and sequence of a MURGC and KAM appear in an Independent Auditor’s Report?
Thanks
Vosti, there are two relevant articles in the P7 Technical Articles section – you can find them through the P7 home page on this site
The article headed:
The New Auditors’ Report
includes this sentence:
“The section headed ‘Material Uncertainty Related to Going Concern’ is included immediately after the Basis for Opinion paragraph but before the KAM section”
and the article
An update for P7 students on Key Audit Matters
includes this sentence:
“Though there is not a specific requirement in terms of placement of the KAM paragraph within the auditor’s report, ISA 701 does comment that placement of the KAM paragraph ‘in close proximity to the auditor’s opinion may give prominence to such information and acknowledge the perceived value of engagement-specific information to intended users’ ”
OK?
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