Emphasis or Other Matter paragraph? ASA/ISA706 explained

[@MeganSmith-rd9lf]

You are a lifesaver with all your explanation videos. I've been using your videos for topics on the audit exam in which I need a better explanation. THANK YOU

[@amandalovestoaudit]

Thanks Megan! Best of luck in your studies 😊

[@nottushar]

Writing my Audit Elective here in Canada in two weeks, and these videos are godsent. Thank you very much!

[@amandalovestoaudit]

You’re welcome Tushar - good luck!

[@marvelouss719]

One of the great things about Dr. White's videos is, she provides various approaches to thinking about the material. Understanding the whys and hows are essential to the long -term retention.

[@zhizhienooi725]

My test is tomorrow, and it is nice to have your videos as my essential revision materials. Thanks Dr Amanda for the effort!

[@amandalovestoaudit]

Good luck in your test! Make sure you let me know how you go ☺️

[@newlife4148]

Thnx Madam. You are the best lecturer ever seen. Worship u with respect 🙏

[@amandalovestoaudit]

Thank you 😊

[@thabangmahlangu1484]

Hi Amanda - Thumbs up to you. I am writing my Auditing exam here in sunny South Africa and this video is on point. Cheers. By the way, my exam is at 14:30 and it is now 13:52 and I choose to listen to you? You know you are awesome by that.

[@amandalovestoaudit]

Thanks Thabang - I hope your exam went well - please be sure to let me know how you go!

[@kennyjames9254]

Thank you Ma’am.

[@rhythmrampal9231]

Such a good explanation, thankssssss

[@amandalovestoaudit]

Thank you for watching 😊

[@mokhethincongwane6483]

You are the best😭😭😭 ❤❤

[@amandalovestoaudit]

Thank you 🙏

[@sivvu_siv]

Short and detailed...🤗

[@simkudzi3183]

amanda there is a section in the auditors report called Material uncertainty in relation to Going concern . It is not included i EOM paragraph or other matter paragraph

[@gavp1336]

Hi Amanda, I was wondering, if you are auditing a regulated company and you want to draw attention to the possibility that the client may not be compliant (I.e. There is a grey area open to interpretation), would this be in the 'Other Matter' paragraph?

[@amandalovestoaudit]

Hi Gav - a great question. Potentially - but remember, if you raise this, you probably should also be in talks with mgmt about it and any regulators.

[@adnannawab7311]

What about the management not allowing or arguing not to include the EOM para. What will be the effect on our opinion?

[@parasmehdi1210]

Can you please add videos for isa 710,720 and 450

[@amandalovestoaudit]

Hey! Auditing comparative figures - ISA/ASA710 kzbin.info/www/bejne/jqGZqH-vaM11aMk Working on the rest 😊

[@Messi-t1m]

PLEASE REPLY CAN Auditor put OM paragraph in case of MODIFIED OPINION (WHETHER DUE TO MATERIAL , ADVERSE OR DISCLAIMER ) ? Please reply

[@amandalovestoaudit]

Hi - theoretically yes - as long as the reason why you are adding the OM or EOM is not the same reason why you are modifying your opinion. Eg if modifies due to a scope limitation over inventory valuation, then you could add an EOM about a subsequent event.

[@Messi-t1m]

@@amandalovestoaudit Thank you so much , now my concept is cleared , God bless you

[@anikiu3208]

Mam, 'when Emphasis on Matter paragraph is included in the audit report then audit report will be modified but audit opinion will be unmodified' is it true as per IAS 706? The classification of audit report and audit opinion is defferent as per IAS 700? Thank you.

[@amandalovestoaudit]

Yes - The audit opinion is still unmodified 😊

[@samuelkwon5824]

Auditor adds emphasis of matter paragraph in the auditor’s report pertaining to matter that is already adequately disclosed or presented in the financial statement and in auditor’s judgement it is necessary to bring the matter to user’s attention and thus emphasizing it by referring to that matter in the financial statements. On the other hand auditor adds other matter paragraph in the auditor’s report pertaining to matter other then those presented or disclosed in the financial statements and in auditor’s judgement it is necessary to bring the other matter to user’s attention by giving necessary details.

[@amandalovestoaudit]

Yes - exactly what I talk about in the video 😊

[@agiljoy9397]

Excatly what i need...... You saved my time....tnks.....

[@bono_netsh]

Appology accepted however could it not wait till you get home ? the noise is quite distructing