Auditing Standard ASA 570 Going Concern
Conformity with International Standards Conformity with International Standards on Auditing
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Conformity with International Standards on Auditing
This Auditing Standard conforms with International Standard on Auditing ISA 570 (Revised 2024), Going Concern issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix “Aus”.
The following requirement is additional to ISA 570 (Revised 2024):
- Paragraph Aus 3.1 refers to solvency statement requirements in the directors’ declaration under the Corporations Act 2001.
The following application and other explanatory material is additional to ISA 570:
- [Aus] Appendix 2 contains diagram of the auditor’s decision-making process for going concern.
This Auditing Standard incorporates terminology and definitions used in Australia.
Compliance with this Auditing Standard enables compliance with ISA 570 (Revised 2024).