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.
- CBIC Clarified certain issues related to refund under GST vide Circular No. 135/05/2020 dated 31st March 2020
- Key Highlights of Reserve Bank of India Press Release(s) dated 27th March 2020
- Note on Changes made in Finance Act, 2020 as compared to Finance Bill, 2020
- The Impact of COVID-19 on Financial Reporting
- Some Due Dates Not Extended & Some Relaxation Not Granted vide Press Release dated 24.03.2020