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.
- Co. Law Rules Changes
- Extension of time limit for compliance to be made for claiming exemption under Section 54 to Section 54GB
- Mandatory Evaluation of the Audit Quality Maturity of CA Firms using AQMM w.e.f. 1st April 2023
- Changes on Foreign Investments in Alternate Investment Funds (AIFs)
- Applicability of Accounting Standards for Different Classes of Entities