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Executive Summary:

ISSAI 1706 – Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report

Purpose:

This Practice Note provides supplementary guidance on ISA 706 - Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report.

ISSAI Category:

Level 4: General Auditing Guidelines - General Auditing Guidelines on Financial Audit

Target Group:

Public sector external auditors

Principle:

ISA 706 deals with additional communication in the auditor's report when the auditor considers it necessary to draw users' attention to

  • A matter or matters presented or disclosed in the financial statements that are of such importance that they are fundamental to users' understanding of the financial statements, or
  • Any matter or matters other than those presented or disclosed in the financial statements that are relevant to users' understanding of the audit, the auditor's responsibilities or the auditor's report.

Appendices 1 and 2 identify ISAs that contain specific requirements for the auditor to include emphasis of matter paragraphs or other matter paragraphs in the auditor_s report.

Scope - Content:

The Practice Note provides additional guidance for public sector auditors related to

  • Emphasis of matter paragraphs in the auditor's report
  • Other matter paragraphs in the auditor's report
  • Communication with those charged with governance
Author - Committee:

INTOSAI Professional Standards Committee – Financial Audit Subcommittee

Status:

Approved at XXth Congress of INTOSAI, Johannesburg 2010

Download:

http://www.issai.org/en_us/site-issai/issai-framework/4-auditing-guidelines.htm

Related Documents - Executive Summaries:
Related Documents - ISSAI Full Versions:
Related Documents - Others:

ISA 706 is applicable to auditors of public sector entities in their role as auditors of financial statements.


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