Consultation on revised review standard (ISRE (UK) 2410) for interim financial statements

November 27, 2020

Published: FRC

The Financial Reporting Council (FRC) has launched a consultation on the proposed revision of its review standard for interim financial statements, International Standard for Review Engagement (UK) 2410 (ISRE (UK) 2410) Review of Interim Financial Information Performed by the Independent Auditor of the Entity.
The FRC has recently reviewed ISRE (UK) 2410 in the context of changes to auditing standards, particularly ISA (UK) 570 Going Concern. As a result, the FRC is proposing to revise parts of ISRE (UK) 2410 to ensure it remains fit for purpose in the current environment.
The FRC’s specific objective in performing this limited revision to ISRE (UK) 2410 is to address a potential lack of clarity in relation to going concern when performing a review of interim financial information.
The FRC’s revisions are limited to those areas which address going concern, however the FRC is interested in respondents’ views on a potentially more systematic revision of ISRE (UK) 2410 in the future, and as such, welcome comments on both the specific revisions to ISRE (UK) 2410 and on reviews of interim financial statements as a whole.
The consultation runs until 19 February 2021.


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