- of KAM may be applied in practice in accordance with ISA 701.
- • and Communicating Key Audit Matters - This diagram depicts the process • and Communicating Key Audit Matters - This diagram depicts the process an auditor follows to determine the KAM to be communicated.
- • Reporting: Frequently Asked Questions - This publication addresses • Reporting: Frequently Asked Questions - This publication addresses commonly asked questions on the new and revised auditor reporting standards, including questions on key audit matters, and other information.

##### Other Information

N8. N8. In South Africa, the corporate governance code, known as King IV , the Johannesburg Stock Exchange Limited (JSE) Listings Requirements (Listings Requirements) and the Companies Act of South Africa require a listed entity to present supplementary reports and information disclosures for various stakeholders.

The Companies Act of South Africa does not require or address the preparation of an annual report; therefore, it does not define the annual report. The Listings Requirements prescribe certain disclosures that should be included in a listed entity's annual report, but also do not define the annual report. The JSE prescribes the manner and form in which listed entities are required to announce their financial results to the market, either through the Stock Exchange News Service (SENS) and/or in the press, as is appropriate. Listed entities often voluntarily present information regarding their financial results, in addition to the reporting required by the JSE, in results booklets or analyst presentations. Such documents may or may not contain more detail, if compared to the information published through SENS and/or in the press. Reporting practices in South Africa, especially among listed entities, are diverse. For example:

- • entities title their reports 'integrated reports', while others refer to 'integrated • entities title their reports 'integrated reports', while others refer to 'integrated annual reports' or 'annual reports'.
- • entities include the full annual financial statements in their integrated or annual • entities include the full annual financial statements in their integrated or annual reports, while others only present summaries of those annual financial statements.
- • entities issue their integrated or annual reports at the same time as their results • entities issue their integrated or annual reports at the same time as their results announcements, while other entities' integrated or annual reports only follow later on.
- • entities issue a single document (i.e. bound together with the audited financial • entities issue a single document (i.e. bound together with the audited financial statements), while others issue two or more documents comprising the entities' annual reporting to stakeholders.

Therefore, registered auditors are required to consider client-specific facts and circumstances when determining the document(s) that comprise their client's annual report. For a South African company whose financial statements are audited, the annual report, for the purposes of ISA 720 (Revised), includes:

- • financial statements; • financial statements;
- • integrated report (if prepared); and • integrated report (if prepared); and
- • other documents that are described within the company's annual financial • other documents that are described within the company's annual financial