SoundCloud revamped the user interface of its iPhone app last year, and is now bringing the changes over to the iPad. Version 3.7.1 for iPad features a cleaner layout with an emphasis on album art, simplified controls for navigation and playback, and consolidation of your likes and playlists in one location.
You can also access a user's profile from a track or playlist by clicking on their name. SoundCloud mentions that the update does not feature the audio recording feature:
Please upload any locally stored sounds before upgrading your iPad app, as audio recording has been removed from this version. For future recording, we recommend downloading one of the many apps that allow you to record and post directly to SoundCloud.