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Sir, In your lectures you suggested to use other information paragraph. And asked to stay clear of using the wording other matter paragraph.
But in the AAA flashcards they used Other Matter Paragraph. It confused me a little bit.“Other information” concerns reporting under ISA 720 I.e. pertaining to other information included in the annual which is not within the scope of the audit opinion.
In more detail:
“Other information” paragraph deals with documents and reports contained in the ANNUAL REPORT that are not subject to audit. If there are material inconsistencies in other information, the auditor has the responsibility to report them under the “other information” paragraph if management or those charged with governance do not resolve the matter.On the other hand, an “other matter” paragraph should be used to communicate a matter that is not presented or disclosed in the financial statements but is relevant to users’ understanding of the AUDIT, the AUDITOR’s responsibilities or the AUDITOR’s report.
The latter is more relevant to AAA-UK where, for example, there are requirements to report matters “by exception” under the Companies Act 2006.
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