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In some answers i have read them say placing EoM after basis for opinion para,so then what about KAMs then shouldn’t they come next to basis for opinion para?
And in other answers they would say ‘other information’ should be immediately placed after opinion paragraph.then what about basis for opinion paragraph shouldn’t they come next to opinion paragraph?
There is lot of ambiguity relating to these matters that come within the auditor’s report?could you please tell me the position of these items(other matter para,other information para,EoM) in the standard audit report?
The sequence I believe is:
Opinion
Basis of opinion
… and now we get very iffy!If applicable, material uncertainty re going concern
KAMs can go anywhere after the basis of opinion but probably (as is required) “in close proximity to the audit opinion paragraph”
EOMs can go before or after the KAMs, auditor’s judgement and relative significance
OMs tend to go at the end
I’m finding it very tricky to tie down any particular site that will give me a definitive sequence
The closest I have managed is this one:
https://www.irba.co.za/upload/ISA-706-Revised.pdf
Now I believe that that is a Zambian site but it’s a site that is explaining ISA 706 (EOMs and OMs) so I’m inclined to believe it!
OK?
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