Going concern assessments (75685131) - Online

'Going concern' is one of the fundamental assumptions in determining how to prepare a set of financial statements. Learn the importance of going concern during the preparation and presentation of financial statements. Also learn the respective responsibilities of preparers and auditors in relation to going concern.

Key topics:

• The role of management or those charged with governance
• The role of the auditors
• Financial statement disclosures
• What if the going concern basis is not appropriate?

• Explain the concept of going concern and why it is important
• Identify potential indicators of going concern issues
• Identify and apply the requirements of management and those charged with governance in relation to the assessment and reporting of going concern
• Identify and apply the requirements of auditors in relation to the assessment and reporting of going concern