Page 10 - GOING CONCERN AND RELATED ISSUES

GOING CONCERN AND FACTUAL INSOLVENCY

Going Concern when planning the audit (risk assessment)

• ISA 570 par A2- A7

• Make enquiries from the entity’s management on whether they

have already made a preliminary assessment of GC;

• If they have…?

• If they have not….?

• Remain alert to possible GC risk throughout the audit.

• Evaluating management’s assessment – (ISA 570.12)

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