CONTENTS

COMPILATION DETAILS

AUTHORITY STATEMENT

Paragraphs

Application.................................. 1-2

Operative Date................................ 3

Introduction.................................. 4-5

Definitions.................................. 6-7

Management’s Responsibility ...................... 8-13

Auditor’s Responsibility ......................... 14-15

Planning the Audit and Performing Risk Assessment Procedures........... 16-21

Evaluating Management’s Assessment ................ 22-26

Period Beyond Management’s Assessment ............. 27-30

Further Audit Procedures when Events or Conditions are Identified 31-34

Audit Conclusions and Reporting

Going Concern Basis Considered Appropriate........... 35-36

Material Uncertainty............................ 37-38

Going Concern Assumption Appropriate but a Material Uncertainty Exists 39-42

Going Concern Assumption Inappropriate.............. 43-45

Management Unwilling to Make or Extend Its Assessment... 46-48

Significant Delay in the Signature or Approval of the Financial Report 49

Communicating with Those Charged With Governance and Management 50-51

Other Considerations............................ 52

Conformity with International Standards on Auditing...... 53

Appendix 1: Linking Going Concern Considerations with Types of Audit Opinions

Appendix 2: Examples of Mitigating Factors

Appendix 3: Examples of Auditor’s Reports Modified Regarding the Going Concern Basis