Enhanced audit reports can help investors
Stephanie Jacob | 16 Jun 2017 00:30
Shareholders of listed companies are starting to get a better deal from their external auditors.
The new enhanced auditors’ report from this year onwards requires auditors to cover a much wider scope and quality. Investors wanting a more holistic view of their company’s financials can get them from what is called key audit matters (KAM).
Currently, investors of listed entities pay thousands of ringgit in fees to auditors who comb through a company’s financial statements to form a view on the integrity of the statements. If there are outstanding issues, a qualified opinion is issued. 

The audit process will usually throw up certain important issues which require more of the auditors’ attention – for example issues like goodwill, valuation of financial instruments, the effects of new accounting standards and so on.