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What does ISA 700 (and 701) cover in reporting?

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ISA 700 governs forming an opinion and the standard form of the auditor's report on financial statements. ISA 701 introduces Key Audit Matters (KAMs)—those of most significance in the current-period audit—communicated in the reports of listed entities to increase transparency about areas of significant auditor attention.
Real-world example A listed company's audit report includes KAMs on goodwill impairment and revenue, as required by ISA 701.

Common follow-ups: What are Key Audit Matters? | Which entities must disclose KAMs?