ISA (NZ) 701 Communicating Key Audit Matters in the Independent Auditor’s Report

  • Auditing
  • Archived Standards

Deals with the auditor’s responsibility to communicate key audit matters (KAM) in the auditor’s report.

In New Zealand, the requirement to report KAM applies to auditors’ reports for all FMC reporting entities considered to have a higher level of public accountability.

It also applies when the auditor is required by law or regulation to communicate KAM for other entities or when the auditor decides to communicate KAM on a voluntary basis.


Effective for audits of financial statements for periods as indicated. Also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard. Versions prior to the Previous version below will have been archived.

Previous version

  • Conforming and Consequential Amendments arising from ISA (NZ) 540 (Revised) – Periods beginning on or after 15 Dec 2019 (early adoption permitted)

    Date of issue: Nov 2018