You are the partner responsible for the audit of ABC Co, for the year ended 30th April, 2014. The final audit has been completed and you have asked the audit manager to draft the audit report. The manager is aware that there is guidance for auditors relating to audit report in ISA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report. The manager has asked for your assistance in this matter. Required: i. Define an ‘Emphasis of Matter paragraph’ and explain, providing examples, the use of such a paragraph. ii. Define an ‘Other Matter paragraph’ and explain, providing examples, the use of such a paragraph.
You are the partner responsible for the audit of ABC Co, for the year ended 30th April, 2014. The final audit has been completed and you have asked the audit manager to draft the audit report. The manager is aware that there is guidance for auditors relating to audit report in ISA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report. The manager has asked for your assistance in this matter. Required: i. Define an ‘Emphasis of Matter paragraph’ and explain, providing examples, the use of such a paragraph. ii. Define an ‘Other Matter paragraph’ and explain, providing examples, the use of such a paragraph.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter1: Quality Auditing: Why It Matters
Section: Chapter Questions
Problem 17CYBK
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You are the partner responsible for the audit of ABC Co, for the year ended 30th April, 2014. The final audit has been completed and you have asked the audit manager to draft the audit report. The manager is aware that there is guidance for auditors relating to audit report in ISA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report. The manager has asked for your assistance in this matter. Required: i. Define an ‘Emphasis of Matter paragraph’ and explain, providing examples, the use of such a paragraph. ii. Define an ‘Other Matter paragraph’ and explain, providing examples, the use of such a paragraph.
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