Analysis of key matters in auditing and their implications for the professional practice
DOI:
https://doi.org/10.24215/27188647e009Keywords:
audit, key matters, experiences, reflectionsAbstract
Professional auditors’ reports issued under certain circumstances must consider the inclusion of what is known as “key audit matters”.
The recent start of the application in practice of the corresponding international standard of auditing in some of our countries determines that it is adequate to briefly analyse certain relevant aspects to be considered in the professional practice.
In this respect, the article tries to summarise the most important elements of this standard, its relevant characteristics, some of the significant aspects to be evaluated during its application, as well as some wording examples used in the Uruguayan reality as initial reference.
The impact has potential effect on all the steps of the professional examination performed by the auditor: planning of the work; integration of the team; evaluation of risks; application of procedures (nature, scope and opportunity); determination of conclusions; writing of the report; relationships with the company’s management and responsibilities in relation to users.
Downloads
References
Banco de la República Oriental del Uruguay. (2021). Estados financieros correspondientes al 31 de diciembre de 2020 e informe de auditoría independiente. https://www.brou.com.uy/documents/20182/52654/auditorias-2020.pdf/f52eb27d-abec-4c47-8892-0875d9a051fe
International Federation of Accountants. (2015). International standard on auditing 701 – Communicating key audit matters in the independent auditor’s report. https://www.iaasb.org/publications/international-standard-auditing-isa-701-new-communicating-key-audit-matters-independent-auditors-4
Scotiabank Uruguay S.A. (2021). Estados Financieros al 31 de diciembre de 2020. https://cdn.agilitycms.com/scotiabank-uruguay/pdf/acerca-de/estados-contables/ScotibankUruguayEECCdic2020.pdf
Downloads
Additional Files
Published
How to Cite
Issue
Section
License
El material publicado en la revista se distribuye bajo una licencia de Creative Commons de Atribución-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0). Esta licencia obliga a otros a dar crédito de manera adecuada, brindar un enlace a la licencia, e indicar si se han realizado cambios; no permite hacer uso comercial de la obra; y si se remezclara, transformara o creara otro material a partir de la obra, deberá ser distribuida bajo esta misma licencia.