This document discusses the audit procedures adopted by the auditors for dealing with Key Audit Matters in three companies, namely AMP, Bank of Queensland, and Commonwealth Bank. It also highlights the changes in KAMs and the negligence of auditors. The document further explains the importance of KAMs for the users of financial statements and the role of the Banking Royal Commission in suggesting measures for the banking industry. Lastly, it emphasizes the responsibility of auditors and regulators in setting up performance procedures and implementing regulations in the banking sector.