Key audit matters are defined in ASA 701 as those matters that, in the auditor’s professional judgement, were of most significance in the audit of the financial report of the current period.  Key audit matters are selected from matters communicated with …

… a Key Audit Matters section in the auditor’s report, this Auditing Standard addresses the relationship between key … in the auditor’s report in accordance with this Auditing Standard.  (Ref: Para.  A1–A3 ) …

ASA 260 requires the auditor to communicate with those charged with governance about the planned scope and timing of the audit, which includes communication about the significant risks identified by the auditor. [9] Although matters relating to …

… This Auditing Standard also applies, as appropriate, to an audit …

… This Auditing Standard applies to: an audit of a financial report …

Matters that are determined to be key audit matters in accordance with ASA 701 may also be, in the auditor’s judgement, fundamental to users’ understanding of the financial report.  In such cases, in communicating the matter as a key audit matter in …

… Appendices 1 and 2 of this Auditing Standard identify Australian Auditing Standards that contain specific requirements for … report.  In those circumstances, the requirements in this Auditing Standard regarding the form of such paragraphs …

Law, regulation or generally accepted practice in a jurisdiction may require or permit the auditor to elaborate on matters that provide further explanation of the auditor’s responsibilities in the audit of the financial report or of the auditor’s report …

The placement of an Emphasis of Matter paragraph or Other Matter paragraph in the auditor’s report depends on the nature of the information to be communicated, and the auditor’s judgement as to the relative significance of such information to intended …

Appendix 3 is an illustration of the interaction between the Key Audit Matters section, an Emphasis of Matter paragraph and an Other Matter paragraph when all are presented in the auditor’s report.  The illustrative report in Appendix 4 includes an …