أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
Primary function of determination of going concern lies with that of management. As per International Standard on auditing (ISA), Going Concern,
Additional Audit Procedures When Events or Conditions Are Identified
If events or conditions have been identified that may cast significant doubt on
the entity’s ability to continue as a going concern, the auditor shall obtain
sufficient appropriate audit evidence to determine whether or not a material
uncertainty exists through performing additional audit procedures, including
consideration of mitigating factors. These procedures shall include: (Ref: Para.
A)
(a) Where management has not yet performed an assessment of the entity’s
ability to continue as a going concern, requesting management to make
its assessment.
(b) Evaluating management’s plans for future actions in relation to its going
concern assessment, whether the outcome of these plans is likely to
improve the situation and whether management’s plans are feasible in
the circumstances. (Ref: Para. A)
(c) Where the entity has prepared a cash flow forecast, and analysis of the
forecast is a significant factor in considering the future outcome of
events or conditions in the evaluation of management’s plans for future
action: (Ref: Para. A–A)
(i) Evaluating the reliability of the underlying data generated to
prepare the forecast; and
Determining whether there is adequate support for the
assumptions underlying the forecast.
(d) Considering whether any additional facts or information have become
available since the date on which management made its assessment.
(e) Requesting written representations from management and, where
appropriate, those charged with governance, regarding their plans for
future action and the feasibility of these plans.
هل تحتاج لمساعدة في كتابة سيرة ذاتية تحتوي على الكلمات الدلالية التي يبحث عنها أصحاب العمل؟
