Audit Quality
Key Audit Matters Themes
Most frequently reported key audit matters in the audit reports of larger public entities and SOEs.
Why key audit matters reveal where risk concentrates
Key audit matters are the issues that, in the auditor's professional judgement, were most significant in the audit of larger public entities and SOEs, disclosed under the ISAs to make the report more informative. Aggregated across an audit portfolio, recurring KAM themes show oversight bodies where audit effort and entity risk consistently concentrate. AuditPro Core themes these matters across reports so audit committees and the AGSA can see systemic exposures rather than reading one report at a time.
The Numbers
AuditPro Core renders this view from your tenant's live, tamper-evident records. The figures below are illustrative sample data.
Entities reporting KAMs
96
listed & large
Avg KAMs per report
2.8
Most common theme
Impairment
31% of KAMs
Revenue-related KAMs
58
Key audit matters by theme
KAM themes by entity group
| Theme | SOEs | Public entities |
|---|---|---|
| Asset impairment | 41 | 43 |
| Revenue recognition | 28 | 30 |
| Provisions | 24 | 23 |
| Going concern | 27 | 12 |
Figures shown are illustrative sample data for demonstration. AuditPro Core renders these views from your own tenant's live, tamper-evident records.
What qualifies as a KAM
A key audit matter is an area of higher assessed risk, significant judgement or major transactions that demanded the most audit attention. It is not necessarily a deficiency, but it marks where assurance was hardest to obtain.
Themes versus isolated matters
A single KAM informs one entity; recurring themes such as impairment, revenue completeness or irregular expenditure reveal a sector-wide risk pattern that warrants a coordinated response.
KAM scope in the public sector
KAMs are reported for listed and larger public-interest entities, including major SOEs. Their presence signals the entities where the public financial exposure is greatest.
How AuditPro Core Bridges the Gap
- Theme aggregation: matters are classified and counted across reports to surface dominant risk themes.
- Traceability to source: each theme links back to the entities and audit reports that raised it.
- Continuous monitoring: recurring themes are tracked across cycles to show whether systemic risks are easing.
- Audit-ready export: the thematic view exports for portfolio-level oversight and AGSA reporting.
Key Takeaways
- KAMs mark where audit effort and entity risk were greatest, not necessarily failures.
- Recurring themes expose sector-wide exposures that single reports cannot show.
- Impairment, revenue and irregular expenditure are common public-sector KAM themes.
- Thematic tracking shows whether systemic risks are improving over time.
See This on Your Own Data
AuditPro Core renders this dashboard from your tenant's live, tamper-evident records — every figure traceable to source.