FRC releases guidance to support auditors get ahead on reducing boilerplate language
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Published: 13 October 2026
The Financial Reporting Council (FRC) has published a Staff Guidance Note (SGN) to support auditors who choose to adopt revised ISA (UK) 700 early, ahead of it coming into effect on 15 December 2026.
In June 2026, the FRC published revised ISA (UK) 700 Forming an Opinion and Reporting on Financial Statements following a consultation in autumn 2025. Alongside revisions to ISA (UK) 701 and ISA (UK) 720, the FRC made changes intended to simplify and declutter the auditor’s report and increase the quantity of useful information for users.
Since its publication, the FRC has spoken with audit firms looking to early adopt ISA (UK) 700 to simplify auditor reporting in line with the intention of the changes to this standard and have asked for support in navigating any issues in doing so.
The FRC welcomes audit firms’ appetite to simplify auditor reporting and in response to this request has published an SGN to support auditors in adopting ISA (UK) 700 ahead of its effective date this December. Alongside the SGN, an interim statement of auditor’s responsibilities has been published on the FRC website.