Coronavirus (COVID-19) Webcast: Introducing reverse stress testing
ICAEW’s Audit and Assurance Faculty shares a recording of its recent webcast which introduces reverse stress testing as a technique a wide range of entities could use to help make going concern assessments more robust, and to enhance risk assessments.
This webcast discusses the latest Audit and Assurance Faculty guide which introduces reverse stress testing. Topics discussed include:
- What reverse stress testing is
- How it is useful for businesses, including in meeting directors’ responsibilities with respect to going concern
- How it works and how to pick a starting point
- A practical example in a COVID-19 situation
- COVID-19 scenarios to consider
- How it can be used in the directors’ going concern assessment and to enhance disclosure
- How it is useful for audit evidence
- Q&A session
Recorded on 11 June 2020
Please note this webcast was recorded remotely due to the current pandemic. There is a slight problem with the sound between the 38th minute and the 40th minute. You can fast forward on. We apologise for any inconvenience this may cause you and we are trying to get it fixed.
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