As you perform the year-end audit work, some concerning information comes to light: After year end, a lawsuit was filed against SI by a competing firm. The competitor claims that the products SI launched in 2020 copied patented technology to which the competitor holds exclusive rights. SI's lawyer believes that SI will be found guilty and that damages will be material. This lawsuit has been in the news, and SI is not being portrayed favourably. SI's share price has declined. SI is struggling to manage its working capital. Cash is tied up in inventory that may not be saleable due to the lawsuit, and management has taken this inventory off the shelves until the lawsuit is resolved. In addition, accounts receivable collection continues to be slow. The bank has been reluctant to extend the operating line of credit due to recent circumstances. Management had performed an assessment of SI's ability to operate as a going concern and concluded that the going-concern basis of accounting was appropriate. However, the above information was not considered in this assessment. Your firm considers these factors to be indicative of conditions that could cast significant doubt on the entity's ability to continue as a going concern. Consider and document the auditor's objectives and responsibilities related to the going-concern basis of accounting as they relate to SI's circumstances. Be sure to outline the CPA Canada Handbook - Assurance requirements and expand on the specifics with regard to SI.