ISA 570 (Revised) Going Concern, contains well-established guidance on going concern, including the following objectives for the auditor: to obtain sufficient appropriate audit evidence regarding, and conclude on, the appropriateness of management's use of the going concern...
Going Concern and the revised ISA includes additional guidance relating to the appropriateness of disclosures when a material uncertainty exists. Under the previous version of ISA 570, if the auditor concluded that the going concern basis of accounting is appropriate, but a material uncertainty ...
The revised standard, applicable for periods beginning on or after 15 December 2019, increases the auditor's work effort, which includes expanded risk assessment procedures over going concern, increased scrutiny over management's going concern assessment and enhanced reporting requirements in the auditor...
Going concern Apply now myACCA Global Americas Europe Middle East Africa Asia Can't find your location/region listed?Please visit ourglobal websiteinstead Employers Why should you hire ACCA accountants? Eight reasons to hire an ACCA member
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 ...
According to ISA 570 Going concern when events or conditions have been identified which may cast doubt on the entity's ability to continue as a going concern, the auditor shall:A. Modify the audit opinion in the auditor's report without further investigation.B. Seek written representations from...
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 ...