(a) ISA 700 Forming an Opinion and Reporting on Financial Statements requires auditors to produce an auditor's report. This report should contain a number of consistent elements so that users are able to understand what the auditor's report means. Required: (i) Identify what a key audit matter (KAM) is and explain how the auditor determines and communicates KAM. (4 marks) (ii) Select any (5) FIVE elements of an unmodified auditor's report and for each explain why they are included. (5 marks) (b) Computer Assisted Audit Techniques (CAATS) is where software is used to increase an auditor's personal productivity and software used to perform data extraction and analysis. They are techniques to increase the efficiency and effectiveness of audit function. Required: (i) Identify TWO (2) advantages and TWO (2) disadvantages of CAATs. (4 marks) (ii) Explain the concept of 'auditing around the computer and discuss why this increases audit risk for the auditor. (2 marks)