Which of the following is NOT one of the three key elements of disclosure in the new enhanced auditor's reports?

The correct response identifies skepticism as not being one of the three key elements of disclosure in the new enhanced auditor's reports. The three key elements that are typically included in these reports are scope, materiality, and key audit matters.

Scope pertains to the extent of the audit, outlining what the auditor examined and what limitations or exclusions may have impacted the findings. Materiality is about the significance of information; it defines what information is important enough to affect the users' understanding of the financial statements. Key audit matters highlight issues that were of most significance during the audit, giving users insight into the areas that required the most attention or judgment by the auditor.

Skepticism, though a fundamental aspect of the auditor's mindset and approach, does not represent a tangible element of the disclosure requirements in the auditor's report itself. Instead, it is an underlying principle that guides the auditor's work. Therefore, while skepticism is critical to conducting audits effectively, it does not constitute one of the specific key elements that are disclosed in enhanced audit reports.