What is the KRPT report?

Key audit matters, as defined by auditing standard ASA 701, are those matters that, in the auditor's professional judgement, were of most significance in the audit of the financial report of the current period. Key audit matters are selected from matters communicated with those charged with governance.

KRPT ‑ Key Audit Matters Documentation

The KRPT document provides the means for the auditor to access all risks that they have identified throughout the engagement file and determine if the Risk is required to follow the process below.

If you Right-Click anywhere on the table it will allow you to open the Independent Auditor's Report (4-760).

Note: ASA 701 applies to audits of general purpose financial reports of listed entities and also applies in those circumstances when the auditor otherwise voluntarily decides, or at the request of management or those charged with governance, to communicate key audit matters in the auditor's report, which might be entities other than a listed entity.

• Related Articles

• Audit System document and procedure updates

  What Documents / Procedures have been added, removed or updated in October 2023? Attached is the Content (October 2023).pdf that will identify the following: New Documents added between builds 24.00.287 and 25.00.343. Deleted Documents removed ...

• Public Sector Update Guide

  What’s New for October 2023? The following items were updated in the Public Sector October 2023 release: New filter for: Z4.10 - Going Concern 4-700 - ASA Program 2-105 Understanding the entity system of controls updated to better align for 315 Split ...

• How do I insert a company logo in Independent Audit Report?

  The CaseWare ANZ templates have been designed by default to have no company logo in the Independent Audit Report. If you need to have the client/company logo in the Independent Audit Report, please follow the steps below. Procedure: Step 1: After ...

• How CaseWare Audit System deals with the audit standard ASA 701.

  Since the previous release of Audit System there has been a new audit standard that has been introduced, ASA 701 - Communicating Key Audit Matters in the Independent Auditor’s Report. As a result of the new requirement, the Audit System template has ...

• Optimiser 3: Directors' Report Overview

  The Directors’ report optimiser provides automation to specific disclosures within the Directors’ report, where alternate wording is required. To display the Directors’ report optimiser, complete the following: Open the Entity and reporting ...