Section Audit Conclusions and Reporting (Ref: Pa - ASA 570 - Going Concern - October 2009 - Audit Conclusions and Reporting (Ref: Para. 17)

Audit Conclusions and Reporting (Ref: Para. 17)

The phrase “material uncertainty” is used in Australian Accounting Standards[*] in discussing the uncertainties related to events or conditions which may cast significant doubt on the entity’s ability to continue as a going concern that should be disclosed in the financial report. In some other financial reporting frameworks, the phrase “significant uncertainty” is used in similar circumstances.

Aus A19.1 Refer to [Aus] Appendix 1 for a diagrammatic illustration of the links between going concern considerations and the types of audit opinions.

Audit Conclusions and Reporting (Ref: PaAudit Conclusions and Reporting (Ref: Para. 17)

Get a plain-English read of Audit Conclusions and Reporting (Ref: Pa

Audit Conclusions and Reporting (Ref: Para. 17)