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sir one final question before the exam , placement of other matter para and emphasis of matter para will be before KAM Or after KAM
I believe that the positioning of an EOM is variable – I don’t think that its position relative to KAM is prescribed
This is the definition of a KAM:
“Key Audit Matters (KAM) are defined as those matters that, in the auditor’s professional judgement, were of most significance in the audit of the financial statements of the current period.”
How is it to be addressed? I’m not sure what question you’re asking here but surely a KAM is, as per the definition, a matter of great significance in the audit of this year’s financial statements
The auditor will always bring KAMs to the attention of the non-executive directors on the audit committee (or those charged with governance)
Is that ok?
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