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Auditing going concern

Auditors test the appropriateness of the use of the going concern basis for financial statements. Our guidance outlines auditor responsibilities for testing going concern, offers practical advice on testing, and explains the implications for the audit report.

Coronavirus considering going concern


The Audit and Assurance Faculty have produced this two part guide for auditors, covering COVID-19 considerations for auditing going concern, and how to report when a material uncertainty relating to going concern exists.

Coronavirus: understanding audit reports


While COVID-19 will affect businesses in different ways and to different degrees, it is likely to have a significant impact on audit reports on company financial statements for the foreseeable future.

COVID - 19 FRC Bulletin


ICAEW’s Audit and Assurance Faculty shares a recording of its recent webcast which discusses the FRC’s March 2020 COVID-19 Bulletin.

Coronavirus: FRC publishes updated audit guidance


20 March 2020: the Financial Reporting Council has issued updated guidance for auditors following the outbreak of the Covid-19 pandemic, calling for particular attention on areas including going concern and the gathering of audit evidence.