Professional Documents
Culture Documents
AA - Spring 2021 12 Going Concern
AA - Spring 2021 12 Going Concern
AA - Spring 2021 12 Going Concern
Going Concern
• Continuing in business for foreseeable future (12
months)
• Going concern not valid if (a) management intends to
liquidate, (b) cease operations, or (c) there is no realistic
alternative to do so.
IAS 1 has explicit requirement to assess going concern
Material Uncertainty
No
Mitigate
mitigation
Modification … Maybe
Matter of Emphasis adverse Opinion