| 24 | Where the audit firm has taken advantage of an exemption provided in paragraphs 12, 15 or 20 of this Standard, the audit engagement partner shall ensure that: |
| (a) | the auditors' report discloses this fact, and |
| (b) | either the financial statements, or the auditors' report, discloses the type of non-audit services provided to the audited entity or the fact that a former audit engagement partner has joined the audited entity. |
| 25 | The fact that an audit firm has taken advantage of an exemption from APB Ethical Standard – Provisions Available for Small Entities is set out in the auditor's report as part of the auditor's responsibilities paragraph. It does not affect the Opinion paragraph. An illustrative example of such disclosure is set out in the Appendix. |
| 26 | The audit engagement partner ensures that within the financial statements reference is made to the type of non-audit services provided to the audited entity or the fact that a former partner has joined the audited entity. An illustration of possible disclosures is set out in the Appendix. Where such a disclosure is not made within the financial statements it is included in the auditors' report. |
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