key audit matter
Rahul Sah (1 Points)
03 July 2018
adding key audit matter para is a substitute to modified opinion.comment.
3 Replies
Bhogendranarayan Das
(8 Points)
Replied 18 August 2018
no it's not. it's additional information to be provided in legal and obligations para
(Guest)
Key audit matters are those matter which requires significant attention of reader as per the auditor. they can not replace the necessary disclosures which are to be made (e.g SA570 GC or SA705 modif)
KAM is tool of communication for better transperancy & understanding of AR
e.g.- Impairment can be disclosed here or industry specific insights
Yamini Sanjay Garg
(39 Points)
Replied 30 August 2018
while reporting key audit matter it is must to indicate that auditor is not modifying his opinion through key audit matter.
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