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Give the three major time periods (subsequent to balance sheet date) of concern to the auditor. Explain the going concern assumption. Who is responsible for
- Give the three major time periods (subsequent to balance sheet date) of concern to the auditor.
- Explain the going concern assumption. Who is responsible for assessing the reasonableness of the going concern assumption?
- Give at least three examples of conditions and events which may cause the auditor to have doubt about the entity's ability to continue as a going concern.
- What are related parties? What are related party transactions?
- What is the main concern of the auditor regarding related parties?
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