Transcription of Auditor Reporting on Going Concern - IFAC
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Auditor Reporting on Going Concern - IFAC
Auditor Reporting on Going Concern January 30, 2015. This publication has been prepared by the Auditor Reporting Implementation Working Group. It does not constitute an authoritative pronouncement of the International Auditing and Assurance Standards Board (IAASB) nor does it amend or override the International Standards on Auditing (ISAs ). Further, this publication is not meant to be exhaustive and reading this publication is not a substitute for reading the ISAs. The topic of Going Concern is of significant interest in light of the global financial crisis.
when ISA 570 (Revised) applies. If the use of the going concern basis of accounting is inappropriate (See paragraphs 21 and A26–A27 of ISA 570 (Revised).) If the financial statements have been prepared using the going concern basis of accounting but, in the auditor’s judgment, management’s use of the going concern
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