IAASB standards require disclosure of key audit matters (KAMs)related to five specific topics.

Name: IAASB standards require disclosure of key audit matters (KAMs)related to five specific topics.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

IAASB standards require the disclosure of Key Audit Matters (KAMs) that are of most significance in the audit of the financial statements of the current period, but they do not limit these to five specific topics. The determination of KAMs is based on the auditor's judgment.

IAASB Standards Require Disclosure of Key Audit Matters (KAMs)related to Five