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August 2025

From Published Accounts

By Himanshu Kishnadwala, Chartered Accountant
Reading Time 15 mins

COMPILER’S NOTE

Standard on Auditing (SA) 701 ‘Communicating Key Audit Matters in the Independent Auditors’ Report’ requires auditors to communicate additional information to intended users of the financial statements to assist them in understanding those matters that, in the auditor’s professional judgement, were of most significance in the audit of the financial statements of the current period. Communicating key audit matters (KAM) may also assist intended users in understanding the entity and areas of significant management judgment in the audited financial statements.

Given below are 3 interesting instances of KAM reported by Auditors for the year ended 31st March 2025

Notes to Standalone Financial Statements

Note 2.3(e) - Derivative Instruments

Forex Derivatives

Initial recognition and subsequent measurement

The Company uses derivative financial instruments, such as forward, future and currency options contracts to hedge its

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