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Enhanced auditor reporting: A review of the third year of the revised auditor’s report

Page last updated: 6 May 2020

Enhanced auditor reporting

This joint FMA and XRB report looks at the evolution of trends in key audit matter reporting in the three years since the revised auditor’s report was introduced. Key audit matters are issues that, in the auditor’s view, were of most significance to the audit of a company’s financial statements – for example, a company’s valuation of goodwill or its revenue recognition. KAMs are intended to provide transparency and give users of the financial statements a better understanding of how the audit was conducted and complexities that arose.

Related documents:

Key Audit Matters - A stock take of the first year in New Zealand