Professional science day

Professional science day

On the 19th of march 2016, Managing partner held a session in front of all JCPA certified candidates in the country discussing the international standards on auditing. (ISA 701)

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Professional science day

On the 19th of march 2016, Hatem Kawasmy the Managin partner of KPMG jordan held a session in front of all JCPA certified candidates in the country discussing the international standards on auditing. (ISA 701)

The objectives of ISA 701 are to determine key audit matters and, having formed an opinion on the financial statements, communicate those matters by describing them in the auditor’s report.

Several significant aspects related to this standard were addressed including the following:

  • Reasons for issuing ISA 701.        
  • Objectives, scope and effective date of the implementation of ISA 701.
  • Entities and circumstances in which ISA 701 apply.
    • ISA 701 overview.
    • Key Audit Matters Not a Substitute for Expressing a Modified Opinion.
    • Example auditor report based on ISA 701.
    • Responses and opinions of public accounting firms and international committees on ISA 701.

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