The auditor is under no obligation to respond to questions on matters beyond the scope of the audit mandate and/or questions relating to matters that are the responsibility of those charged with governance. Therefore, it is important that the auditor, …

Adequate planning and preparation for the AGM enable authoritative responses to be provided to questions raised. In addition to preparing responses to written questions received by members prior to the AGM, the auditors preparation may also include …

The chair of the AGM should be familiar with the responsibility and authority of both those charged with governance and the auditor, with matters arising from the financial report and the content of the auditor’s report, to ensure that inappropriate …

The auditor may respond to questions about the auditor’s report by referring to the auditor’s report included with the financial report. Where necessary, the auditor explains the meaning of the terms used in the auditor’s …

The auditor provides assurance on the financial report taken as a whole. Hence individual financial statement items are audited within the framework of materiality appropriate to the financial report as a whole, rather than a materiality level appropriate …

Members may be interested in errors detected by the auditor and/or disagreements with management. The auditor explains the significance of an unmodified opinion to indicate that any uncorrected errors are immaterial and disagreements have been resolved …

Auditors may receive questions on matters that have been communicated as KAMs. Questions may be asked in relation to: Why matters have or have not been identified as a KAM; Why certain procedures were or were not performed; What conclusion the auditor …

When responding to questions on the communication of KAMs including how they were determined, the auditor’s response may be based on the requirements of ASA 701 as follows: KAMs are to enhance the communicative value of the auditor’s report by providing …

In responding to questions about specific conclusions on KAMs, [25] the auditor may explain that the auditor’s responsibility is to opine on the financial report as a whole and there is no separate opinion provided on KAMs. There is guidance in ASA 701 …

When responding to questions about procedures performed or the outcome of the audit procedures with respect to KAMs, the auditor may refer to the description in the auditor’s report. The auditor may also explain that when determining the procedures to …