The new and revised auditor reporting standards became effective for audits of financial statements for periods ending on or after 15 December 2016. With more than two years of post-implementation experience, SAICA provides an overview and analysis of the revised format of the auditor’s reports of certain entities listed on the Johannesburg Stock Exchange (JSE).
SAICA analysed the auditor’s reports of the Top 40 South African companies (based on market capitalisation) listed on the JSE for the first two years where key audit matters (KAM) were reported in auditor’s reports in South Africa for those companies that were listed during that period (the ‘Top 40 companies’).
