CAF-8 · Chapter 14 · Question 4 of 10
According to ISA 701, 'Key Audit Matters' (KAM) are selected from which specific pool of information?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Matters communicated with those charged with governance.
Explanation
Key Audit Matters are defined as those matters that, in the auditor's professional judgment, were of most significance in the audit of the current period. They must be drawn exclusively from the matters that were communicated with those charged with governance.
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