The purpose of communicating key audit matters is to enhance the communicative value of the auditor’s report by providing greater transparency about the audit that was performed.
Communicating key audit matters provides additional information to users of the financial statements and auditor’s report thereon to assist them in understanding those items that, in auditor’s professional judgment, were most significant to the audit.Communicating key audit matters may also assist intended users in understanding the entity and areas of significant management judgment in the audited financial statements.
- List of Major Amendments made by Finance Act 2022
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- CBDT notifies ITR-U for filing updated ITR under section 139(8A)
- CBDT Prescribes Further Conditions for Mandatory Filing of ITR
- The Companies (Auditor’s Report) Order, 2020