ISA 570 - Going Concern

 


ISA  570 deals with the auditor’s responsibilities in the audit of financial statements relating to going concern and the implications for the auditor’s report.

 Its core requirements encompass:

  •      risk assessment procedures and related activities,
  •      evaluation of management’s assessment an entity’s ability to continue as a going concern,
  •      additional audit procedures when events or conditions are identified that may cast significant doubt on the entity’s ability to continue as a going concern,
  •      implications for the auditor’s report and
  •      communication with those charged with governance.

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