The revisions are out for consultation and reflect recent enforcement findings following investigations of audit firms as well as ensuring that the standard reflects modern approaches to obtaining confirmations. There is additional material on the use of digital platforms, enhanced requirements in relation to investigating exceptions and a prohibition on negative confirmations.

ISA (UK) 505 includes the requirements and application material relevant to auditors when seeking to use external confirmations as a source of audit evidence. Although it was updated for conforming amendments in May 2022, the core standard and its requirements have not been revised since 2016.