Financial periods ending on or after 15 December 2016.
HKSA 700 (Revised), HKSA 701 (New), HKSA 570 (Revised), HKSA 705 (Revised),
HKSA 706 (Revised), HKSA 260 (Revised), conforming amendments to several
other HKSAs and HKSA 720 (Revised).
Why change the auditor's report
The auditor’s report is the key deliverable communicating the results of the audit process. Investors and other financial statement users have asked for a more informative auditor’s report—in particular for auditors to provide more relevant information to users.
Research, public consultations, and stakeholder outreach, including global roundtables, indicate that enhanced auditor reporting is critical to influencing the perceived value of the financial statement audit.