1) under ISA 570 going concern, obtain sufficient appropriate audit evidence about appropriateness by of management’s use of the going concern assumption in the preparation of the financial statements by undertaking appropriate substantive procedures 2) consider whether going concern assumption is adequate...
and documenting their assessment of going concern, the auditor might expect to see the following: 1 Analysis of the core operations of the business as they relate to going concern, including the business model, types of investments or disposals planned, how the business is financed and so on....
The correct answers are: Review management's plans for future actions; Seek written representations from management regarding its plans for the future. ISA 570 Going concern discusses the procedures the auditor should follow in this scenario. Although the audit opinion in the auditor's report may ...
ISA 570 Going concern identifies s and conditions that may cast doubt about the going concern assumption. Which of the following are identified by ISA 570 as financial factors?(1) Loss of key customers(2) Net liability position(3) Substantial operating losses(4) Shortages of key raw materials...
ISA 570 does not suggest a hierarchy of these indicators, because they are only examples of events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern (GC), nor does it suggest specific ratios. To this end, an...
ISA 570 does not suggest a hierarchy of these indicators, because they are only examples of events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern (GC), nor does it suggest specific ratios. To this end, an...
A going concern standard based on ISA 570 came into effedoi:10.2139/ssrn.2377169Sundgren, StefanSvanstrm, TobiasSocial Science Electronic PublishingMarchau, VAWJ, van der Heijden, RECM & Molin, EJE: "Desirability of driver assistance from road safety perspective: the case of ISA". Safety ...
The Going Concern—Theory and Practice In The Financial Audit. Eur. Integr.-New Chall. 2011, 1, 631–635. [Google Scholar] Triani, N.N.A.; Satyawan, M.D.; Yanthi, M.D. Determining The Effectiveness of Going Concern Audit Opinion by ISA 570. Asian J. Account. Res. 2017, 2, 29...
The use of multiple methods to provide serological confirmation of Aspergillus infection is a cause for concern and it is not clear that the performance of these tests is comparable between hospitals or individual patients groups within the CPA population. Standardisation of techniques, re-evaluation ...