Key Audit Matters in the Mining Industry

This paper discusses the key audit matters in the mining industry and their impact on financial statements. It explores the auditing standard ASA 701 and its significance in enhancing transparency. The annual reports of mining companies are analyzed to understand how they consider key audit matters in their audit reports. The paper focuses on the mining companies listed on the ASX and examines their key audit matters related to revenue, financing, asset valuation, taxation, and rehabilitation provisions.