Going Concern and Other Uncertainties

Objectives

To apply the requirements in ISA 570 Going Concern to the current economic environment and awareness of the challenges faced by auditors. With collapses of entities in recent years and uncertain market conditions, the auditor’s assessment of going concern and the challenge of management assumptions must be supported by reliable audit evidence. It still remains a topical and interesting area for auditors.

Key topics

• The practical approach to applying the key requirements in ISA 570
• Indicators of potential going concern issues in the current environment and the impact on management’s future forecasts
• Obtaining sufficient and appropriate evidence and challenging management key assumptions in their going concern assessment
• Drawing conclusions on the going concern assumption and any material uncertainties
• Disclosure requirements in the financial statements and the audit report

Who should attend

All levels of staff in practice involved in auditing financial statements.