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QUESTION 1 ( 2 5 Marks ) 1 . 1 . Briefly explain why auditors are interested in the going concern ability of a company?
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Briefly explain why auditors are interested in the going concern ability of a company?
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Where a company is required to disclose a going concern problem in its notes, what information should
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In terms of ISA Revised Going Concern, the adoption of the going concern basis of accounting in
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the preparation of the annual financial statements means
If a material uncertainty exists relating to the company's ability to continue as a going concern, can the
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going concern basis for the preparation of the Annual Financial Statements be adopted? Explain.
Is going concern an assertion? Discuss.
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What are the objectives of the auditor when conducting audit procedures relating to the going concern
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assumption?
If management the directors have already performed an assessment of their company's going concern
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abilty, is it necessary for the auditor to perform an assessment of going concern? Justify.
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