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a) Auditors are now required to provide much longer, and more detailed audit reports. This move was enshrined in ISA 701, Communicating Key Audit Matters

a) Auditors are now required to provide much longer, and more detailed audit reports. This move was enshrined in ISA 701, Communicating Key Audit Matters in the Independent Auditor's Report.

Required: Explain the benefits of communicating key audit matters in the auditor's report.(15marks)

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