Main FeaturesMain Features

Main Features

This Auditing Standard represents the Australian equivalent of ISA 570 (Revised 2024), Going Concern and will replace the current ASA 570 issued by the AUASB in December 2015 (as amended to March 2023).

This Auditing Standard contains differences from the ISA 570 (Revised 2024), which have been made in the Application and Other Explanatory Material and Appendices to reflect Australian regulatory requirements.

AUTHORITY STATEMENT

The Auditing and Assurance Standards Board (AUASB) makes this Auditing Standard ASA 570 Going Concern pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001.

This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied. This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.

Dated: 14 May 2025 D Niven
Chair - AUASB

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).