Other Matter Paragraph

Question 1

What is the other matter paragraph?

Answer 1

A paragraph included in auditor’s report that refers to a matter other than those presented or disclosed in FSs that, in auditor’s judgement, is relevant to user’s understanding of the audit, auditor’s responsibilities, or auditor’s report

Question 2

Example of circumstances where auditor may include other matter paragraph?

Answer 2

When prior year FSs have not been audited or have been audited by another auditor

Question 3

What happens for listed entity audits?

Answer 3

Same issue would not be included within other matter and KAm paragraph

Question 4

When is the other matter paragraph used?

Answer 4

Usually comes immediately after key audit matters

It is entitiled “Other matter”