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ASA 570 - Going Concern - April 2006
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Other Considerations
52 An auditor is required by section 311 of the Corporations Act 2001 to notify the Australian Securities and Investments Commission (ASIC) if the auditor is aware of certain circumstances. ASIC Practice Note 34 Auditors’ Obligations: Reporting to ASIC provides guidance to help auditors comply with their obligations under section 311 of the Act, such as reporting suspected insolvent trading.