P7 UK STREAM

The difference between UK stream and International stream revolves around (from what I can see) the timing of the UK accepting international standards – both accounting and auditing

My understanding is that the UK has not fully adopted IFRS and still hangs on to one or two FRSs

In addition, the adoption of the revised auditing standards covering audit reports appears to be delayed in the UK

Unfortunately I am not able to find the specific page on the internet where the UK examinable P7 documents is listed for the exam sessions commencing with September 2017 so am not able to compare with the equivalent International listing of examinable documents

The course notes and lectures are substantially ok for the UK even though they are aimed at international stream – you simply need to be aware of the situation so far as concerns the UK stage reached with reference to the adoption of those standards

There is at least one good article in the technical articles section of the P7 home page written by a member of the P7 marking team and dealing with the UK’s position concerning the revisions to the format and content of the audit report – worth a read!

OK?