Page 7 - GOING CONCERN AND RELATED ISSUES
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GOING CONCERN AND FACTUAL INSOLVENCY




                           Management’s responsibility









            Management – IAS 1 and ISA 570 per 03 –

            management is required to make an assessment of


            their entity’s ability to continue as a GC.



                    • If entity is considered a GC….?

                    • When material uncertainties exist…? (IAS 1, par 25)


                    • When financial statements are not prepared using the


                       GC;

                           • Fact to be disclosed


                           • Basis used

                           • Reasons for the departure (IAS 1 par 25)







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