CONTENTS

PREFACE

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

Definition.................................................................10

Requirements

Risk Assessment Procedures and Related Activities.................................11-15

Evaluating Management’s Assessment..........................................16-25

Evaluating Management’s Plans for Future Actions.................................26-28

Information Becomes Known After the Date of the Auditor’s Report.......................29

Evaluating the Audit Evidence Obtained and Concluding.............................30-31

Adequacy of Disclosures....................................................32-33

Implications for the Auditor’s Report...........................................34-38

Written Representations.....................................................39-40

Communication with Those Charged with Governance...............................41-42

Reporting to an Appropriate Authority Outside of the Entity.............................43

Documentation..............................................................44

Application and Other Explanatory Material

Scope of this Auditing Standard..............................................A1-A2

Going Concern Basis of Accounting..............................................A3

Responsibility for Assessment of the Entity’s Ability to Continue as a Going Concern..........A4

Definition..............................................................A5-A6

Risk Assessment Procedures and Related Activities...............................A7-A32

Evaluating Management’s Assessment........................................A33-A58

Evaluating Management’s Plans for Future Actions..............................A59-A65