STANDARDS ON AUDITING y “SA — 701" “Communicating Key Audit Matters in the Independent Auditor's Report” Meaning uditor’s professional judgment) were of most significance in the rent period. Key audit matters are selected from matters, ee as O Key Audit matter are those matters that in audit of the financial statements of the % communicated with TWCG. TVhese mabls one Odbwessed An Ihe Contert fF whl DR Rerming opinion Abeveon. Purpose > Toenhance the communicative value of the auditor's report > Provides additional information to intended users of FS > Assist intended users in understanding areas of significant management judgment Communi not +A substitute for isclosute ting key audit matters in the auditor's report i in FS that applicable FRF requires. pressing modified opinion as per SA 705.) ‘© A substitute for report SA 570 when material uncertainty exists relating to events oF conditions that may cast significant doubt on entity's ability to continue as going concern. + A separatyopinion on individual mater. {Determining Key Audit Matters: + Areas of assessediRisk of MM br signifi SHenificant (auditor judgments relating to FS that (involved including accounting estimates. Effect on audit of significanf-events br fransactions occurred during the period © A substitute for LoS nt risks as per SA3IS. A jgnificant_management_judgment/| 27 Nadieabitity + * Quads of Listed enbikes, . Requred Noy, Love ov eygtotien usten aubiter decides 3 > Cyrcumstences = Pachiition: Ulve ovbior disdain O0 opinion LAVfoued in case oP Bid BASvore opteren, Oo: Alder on “Commenicoting Key Met Metles in dhe Audie Report, = (DTrtedodtoy Lengguage © Meoring Gere’ TIE desesipon ofl eoch KAM in Key Adit Metter Section _on ‘audit Neport SYCAATULAGARWAL Shall inelude a WeRreree te dhe Yelakd desdesurel) TE ony Yn the AIRICAFINAL £3 hsholl tecledeaddreas Co why dhe moltey ps Considered as may aigniRerce sIiDHtou dhe maiterwes addreared > } i 4 G) Puditer Shot determine cock KAM Unless I. oudit Yepert 4 Cy Lew or rreguobent precludes gubtie duslesvia about the moter e iy Ddvese Cover o? Conmanahig Atale tuo ean be ex pected ‘ fo ovweigh dhe public intrest bene of Sth Communt cation,