Before 2011, CICA Handbook, paragraph 5510.53, provided guidance for audit reporting when there is a going-concern problem.
Question:
Required:
a. Critique the audit reporting required by paragraph 5510.53 from the perspective of a financial statement user who owns shares of the auditee company.
b. Assume the role of the company’s auditor. How would you respond to the criticisms raised in (a)?
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The question requires evaluation of going concern reporting and audit responses from different persp...View the full answer
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Related Book For 
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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