John Selwood audit clinic
John considers some key questions for auditors on going concern.
The Audit and Assurance Faculty and other parts of ICAEW have created and collated guidance, webinars and other resources to assist with technical and practical matters related to the audit of going concern, in general and in particular during the time of COVID-19. Members will find more information, including links, later in this Q&A.
With many companies facing uncertainty concerning future operations due to COVID-19, how can auditors rely on management cash flow forecasts when auditing going concern?