Which of the following statements is not true?
A)The auditor does not have to report KAMs in the audit report.
B)Where the auditor decides to modify the audit report, they do not include this matter in the KAM section.
C)Communication of KAMs is a substitute for disclosures that management are required to make as part of the financial report.
D)all of the above are true.

Question

Quizplus · Accepted Answer

Communication of KAMs is not a substitute for disclosures that management are required to make as part of the financial report. KAMs are meant to highlight areas of significant auditor attention, not replace management's disclosures.

Which of the Following Statements Is Not True