UK: the auditor's report - revised standard published by APB

The Auditing Practices Board has today published a revised edition of auditing standard ISA (UK and Ireland) 700: the Auditor's Report on Financial Statements. In the press release accompanying publication of the revised standard, the APB states:

Improving the conciseness of the auditor’s report is the first phase of APB’s work to respond to the views of commentators [on the 2007 discussion paper "The Auditor’s Report: A time for change?"]. The new ISA (UK and Ireland) 700 (Revised) facilitates shorter auditor’s reports in a number of ways including allowing cross reference to a “Statement of the Scope of an Audit” maintained on APB’s web-site".

Accompanying the revised standard, but not part of it, are several illustrative auditor's reports.