SonalSonal asked 2 years ago

Sir,the most significant matters which will come in key audit matter  para are subjective in can we say a particular matter will come in kam para or eom matter is subject to judgement?or is there a clear way of identifying the same

1 Answers
RaviRavi Staff answered 2 years ago

Key Audit Matter — Highlights “Most Significant Matters” out of matter communicated to TCWG of Audit Process 
EMP — Highlighting information “in financial statement” which is significant for user understanding
So ultimate objective of both is different KAM gives user info about audit process EMP gives info about financial statement
And if there is common item , it will be covered in KAM rather than EMP
See below videos for detailed understanding

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