CONTENTS

COMPILATION DETAILS

AUTHORITY STATEMENT

CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING

Paragraphs

Application......................................................Aus 0.1-Aus 0.2

Operative Date.........................................................Aus 0.3

Introduction

Scope of this Auditing Standard..................................................1

Going Concern Basis of Accounting...............................................2

Responsibility for Assessment of the Entity’s Ability to Continue as a Going Concern..........3-7

Effective Date...............................................................8

Objectives..................................................................9

Requirements

Risk Assessment Procedures and Related Activities.................................10-11

Evaluating Management’s Assessment..........................................12-14

Period beyond Management’s Assessment..........................................15

Additional Audit Procedures When Events or Conditions are Identified.....................16

Auditor Conclusions.......................................................17-20

Implications for the Auditor’s Report...........................................21-24

Communication with Those Charged with Governance.................................25

Significant Delay in the Approval of Financial Report..................................26

Application and Other Explanatory Material

Scope of this Auditing Standard.................................................A1

Going Concern Basis of Accounting..............................................A2

Risk Assessment Procedures and Related Activities................................A3-A7

Evaluating Management’s Assessment........................................A8-A13

Period beyond Management’s Assessment................................A14-Aus A15.1

Additional Audit Procedures When Events or Conditions are Identified................A16-A20

Auditor Conclusions.....................................................A21-A25

Implications for the Auditor’s Report....................................A26-Aus A35.1

[Aus] Appendix 1: Linking Going Concern Considerations and Types of Audit Opinions

Appendix 2: Illustrations of Auditor’s Reports Relating to Going Concern