There may be challenges in describing the auditor’s procedures, particularly in complex, judgemental areas of the audit.  In particular, it may be difficult to summarise the procedures performed in a succinct way that adequately communicates the nature …

As noted in paragraph  A46 , the auditor may also provide an indication of the outcome of the auditor’s response in the description of the key audit matter in the auditor’s report.  However, if this is done, care is needed to avoid the auditor giving the …

Circumstances in Which a Matter Determined to Be a Key Audit Matter Is Not Communicated in the Auditor’s Report (Ref: Para.  14 ) …

Law or regulation may preclude public disclosure by either management or the auditor about a specific matter determined to be a key audit matter.  For example, law or regulation may specifically prohibit any public communication that might prejudice an …

As indicated by paragraph  14(b) , it will be extremely rare for a matter determined to be a key audit matter not to be communicated in the auditor’s report.  This is because there is presumed to be a public interest benefit in providing greater …

The determination not to communicate a key audit matter takes into account the facts and circumstances related to the matter. Communication with management and those charged with governance helps the auditor understand management’s views about the …

It may also be necessary for the auditor to consider the implications of communicating about a matter determined to be a key audit matter in light of relevant ethical requirements.  In addition, the auditor may be required by law or regulation to …

The issues considered by the auditor regarding a decision to not communicate a matter are complex and involve significant auditor judgement.  Accordingly, the auditor may consider it appropriate to obtain legal …

Form and Content of the Key Audit Matters Section in Other Circumstances (Ref: Para.  16 ) …

The requirement in paragraph 16 applies in three circumstances: The auditor determines in accordance with paragraph 10 that there are no key audit matters (see paragraph A59 ). The auditor determines in accordance with paragraph 14 that a key audit matter …