Auditing: Going Concern

by Steve Collings

Part of a series on 2024-25 Auditing Updates. The IAASB is in the middle some targeted revisions of ISA 570 Going Concern. This short course considers the auditor's responsibilities in connection with going concern, outlines the reporting implications and examines some common issues found during audit file reviews.

This module will enable you to

  • Discuss the IAASB's project on going concern
  • Understand the auditor's responsibilities in connection with going concern
  • Outline reporting implications with regard to going concern issues
  • List common problems found when reviewing audits of going concern

About the module

The concept of going concern continues to be a challenge for many auditors and is still up there as a contentious issue when it comes to problems highlighted during audit file review.

This short course focuses on understanding the auditor's responsibilities in connection with going concern, correctly reporting going concern issues and avoiding the mistakes that frequently crop up when auditing this complex area.

Contents

  • Going concern

How it works

Author

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA’s Practice Network Panel.

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