Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
International Standard on Auditing (Ireland) 706 deals with additional
communication in the auditor’s report when the auditor considers it necessary to:
(a) Draw users’ attention to a matter or matters presented or disclosed in the
financial statements that are of such importance that they are fundamental to
users’ understanding of the financial statements; or
(b) Draw users’ attention to any matter or matters other than those presented or
disclosed in the financial statements that are relevant to users’ understanding of
the audit, the auditor’s responsibilities or the auditor’s report.
Effective Date
ISA (Ireland) 706 is effective for the audits of financial statements for periods
commencing on or after 17 June 2016, for which opinions are issued on or after 1
February 2017.
Current Standard