Which of the following statements is true regarding key audit matters (KAM) in an auditor’s report? a. it summarises all matters that were communicated to those charged with governance b. Generally, it should not be included if the auditor disclaims an opinion c. It is a requirement for all companies d. It contains a separate opinion on specific matters

Which of the following statements is not true?Group of answer choicescommunication of KAMs is a substitute for disclosures that management are required to make as part of the financial reportKAMS are a fairly recent innovationthe auditor does not have to report KAMs in the audit reportwhere the auditor decides to modify the audit report, they do not include this matter in the KAM section

A key audit matters section needs to be included in an audit report unless the audit report has:   a.An unmodified opinion.b.An adverse opinion.c.A qualified opinion.  d.A disclaimer of opinion.  e.An "other matter" paragraph.

A standard unqualified audit report is not required to have which of the elements set out below?Group of answer choicesan opinion paragrapha heading ‘Auditors Opinion’matters the auditor wishes to emphasisethe opinion of the auditor on the financial statements

The emphasis of matter paragraph in an audit report would normally refer to the fact that the auditor’s opinion is:Group of answer choicesqualified in this respectan adverse opiniona disclaimer of opinionnot qualified in this respect

The addition of an emphasis of matter paragraph in an audit report:Group of answer choicesdoes not affect the auditor’s opinionis only included for going concern uncertaintiesdoes affect the auditor’s opinionis required by the standards to be included in all audit reports