Going Concern - IAASB
At its meeting on June 13-17, 2022, the IAASB discussed and broadly supported the Going Concern Task Force’s initial views and recommendations for selected key issues identified in the project proposal for the revision of ISA 570 (Revised). This included proposals for the timeline over which the going concern assessment is made and for transparency about the auditor’s responsibilities and work related to going concern. In September 2022, the Going Concern Task Force intends to discuss with the Board certain other proposed actions in the project proposal such as risk identification and assessment, terminology, management’s assessment of going concern, and professional skepticism.
Review the summary, including the podcast, on the IAASB's Web site.
