Auditor reporting and transparency about the entity’s financial condition is information critical to our turbulent economy. Amid the economic turmoil related to the coronavirus pandemic, going concern ...

The new Frequently Asked Questions document aims to support stakeholders as they implement International Standard on Auditing 570 (Revised 2024), Going Concern. The FAQ document discusses the main ...

The COVID-19 pandemic has created unprecedented uncertainty, and businesses across all industries have felt, or will likely feel, the related financial strains and pressures. With customers confined ...

The COVID-19 pandemic caused an unprecedented amount of financial pressure for many businesses, and auditors will still be sorting out the risks clients face during this year’s audit engagements. Some ...

Those who know about such things tell us that the presidential debates are less about issues than about the candidates’ values and the principles that guide their actions. Debates are supposed to ...

A going concern means the company is expected to operate and meet financial obligations. Auditors evaluate liquidity, income, and management plans to affirm going concern status. Red flags include ...

A firm is seen as a 'going concern' if its auditors believe it will stay in business for the 'foreseeable future' (as a rule of thumb, this is at least 12 months after its balance-sheet date). This is ...

A going concern qualification is typically issued by a company’s auditor regarding a substantial doubt about the company’s ability to continue operating in the foreseeable future. A going concern ...

WeWork's inclusion of a "going concern" statement in their 10-Q filing caused a sharp drop in their stock price after the close on August 8. This ASU No. 2014-15 (subtopic 205-40) "going concern" ...