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COVID-19 and Going Concern: What the accounting standards require

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May 20, 2021

On May 20, 2021, the Accounting Standards Board (AcSB) released going concern resources for IFRS Standards, ASPE and Accounting Standards for Not-for-Profit Organizations to help navigate potential challenges associated with going concern assessments.

The COVID-19 pandemic continues to cause considerable deterioration in economic conditions for many organizations. With significant organizations profiled in news stories for insolvencies, bankruptcies, and other financial difficulties, it’s more important than ever to keep going concern top of mind.

Review the resources on the AcSB's website.

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