Going concern: Auditors' responsibilities and implications for audit reports

  • Author: Juané Schreuder CA(SA)
  • Level: Advanced
  • Study time: 2 hours 30 minutes
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Course overview
The assumption that an entity will continue as a going concern is fundamental to the preparation of an entity’s financial statements. ISA 570(R) provides guidance on the auditor’s responsibility in the audit of financial statements with respect to the going concern basis of accounting and management’s assessment of the entity’s ability to continue as a going concern. Although this standard is applicable to audits, the concepts are similar in an independent review and even the compiler of financial statements, can benefit from understanding these principles. Complete this course for a comprehensive understanding of the ISA 570(R) requirements and the practical application thereof.

What's included?

  • 5 Modules
  • 1 Guide
  • Additional tools
  • 1 Quiz
  • Certificate of completion

Going concern assumption 

What does it really mean?
What is the auditor's responsibility?
Will an independent review be impacted by an entity's going concern status?
How does information about the going concern of an entity impact other parties?

Link to the SAICA Competency Framework

Technical competencies: Quality assurance
Technical competencies: Assurance engagements
Technical competencies: Audits of historical financial statements