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ASA 570 - Going Concern - December 2015
Scope of this Auditing Standard (Ref: PaScope of this Auditing Standard (Ref: Para 1)
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Scope of this Auditing Standard (Ref: Para 1)
- ASA 701[7] deals with the auditor’s responsibility to communicate key audit matters in the auditor’s report. That Auditing Standard acknowledges that, when ASA 701 applies, matters relating to going concern may be determined to be key audit matters, and explains that a material uncertainty related to events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern is, by its nature, a key audit matter.[8]