The auditor's report on financial statements is set to include a statement of what the scope of an audit is, following a revision of the rules by the Auditing Practices Board. The Board, which began looking at the issue in 2007, said that the revised ISA 700, The Auditor's Report on financial statements, also brings in changes made by the Companies Act 2006. Previously, the 'basis of opinion' provided some detail about the scope of audit work. Now this has changed to the heading, 'scope of an audit' and additionally allows UK companies to cross-refer to the APB's statement of the scope of an audit on its website, to cross-refer to the statement elsewhere in a company's annual report, or to include the statement itself , using sample wording from the APB. The changes are a result of calls for a more up-to-date version of what auditors' and directors' responsibilities are, in addition to a summarised description of the scope of an audit, by institutional investors, preparers, public-sector bodies, and auditing firms. Some institutional investors also suggested that the report be more informative and provide more insight into the work the auditor's have carried out. The APB said there may be further changes in this area: ' APB wishes to make clear that ISA (UK and Ireland) 700 (Revised) does not preclude auditors from including additional comment in the auditor's report to highlight matters which they regard as relevant to a proper understanding of their work.' The APB has advised auditors to include additional comments in the auditor's report using guidance in 'Other Matter Paragraphs in the Auditor's Report' from ISA 706 or 'Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report' (paragraph 55 of ISA (UK and Ireland) 700 (Revised)). APB chairman Richard Fleck, said that the form and content of the auditor's report 'is a matter of active consideration internationally.''... APB continues to believe that there is a "window of opportunity" during which it can influence international decisions on the auditor's report, especially if its ideas are implemented in practice and found to be beneficial by investors and others,' said Fleck.