Transcription of PHILIPPINE STANDARD ON AUDITING 570 (REVISED) …
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PHILIPPINE STANDARD ON AUDITING 570 ( revised ) GOING CONCERN (Effective for audits of financial statements for periods ending on or after December 15, 2016) CONTENTS Paragraph Introduction Scope of this PSA .. 1 Going Concern Basis of Accounting .. 2 Responsibility for Assessment of the Entity s Ability to Continue as a Going Concern .. 3 7 Effective Date .. 8 Objectives .. 9 Requirements Risk Assessment Procedures and Related Activities .. 10 11 Evaluating Management s Assessment .. 12 14 Period beyond Management s Assessment .. 15 Additional Audit Procedures When Events or Conditions Are Identified .. 16 Auditor Conclusions .. 17 20 Implications for the Auditor s Report .. 21 24 Communication with Those Charged with Governance.
Philippine Standard on Auditing (PSA) 570 (Revised), Going Concern, should be read in conjunction with PSA 200, Overall Objectives of the Independent Auditor and …
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