How to report on material uncertainty related to going concern a guide for auditors

This item was filled under Accounting

The impact of COVID-19, including the effects of government restrictions, may result in events or conditions that cast significant doubt on a reporting entity’s ability to continue as a going concern. If such events or conditions exist, it is the responsibility of management to ascertain whether or not the entity is a going concern, and, if it is considered to be a going concern, whether there is, nonetheless, a related material uncertainty.

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.