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John Selwood's audit clinic

Answers to questions on 2019 revisions to ISAs (UK) affecting all audits and all auditor's reports.

During 2019 the Financial Reporting Council (FRC) enhanced and revised
a number of International Standards on Auditing (UK) (ISAs (UK)) and they are effective for audits of financial statements for periods commencing on or after 15 December 2019 (see final question, far right column). Some of the resulting changes affect all audits, while some affect only audits of public interest entities (PIEs).

There is potential for confusion around some aspects of this, so this Q&A offers clarification on some of the new requirements in ISAs (UK) that affect the content and wording of all auditor’s reports.