Going Concern Audit Issues

Evaluate one of the most critical audit judgments: whether a client can continue as a going concern. This course reviews the relevant accounting and auditing pronouncements and illustrates required disclosures through practical examples. Learn how to identify indicators of financial distress, assess management’s remediation plans, and document your conclusions. Apply proven best practices to improve the rigor and consistency of your going concern evaluations.

Format

PDF Course

Course Lists

Duration

1 Hour

Course Information

Author: Steven Bragg

Course Number: AU1031

Learning Objectives

Recognize the criteria for a going concern evaluation.
Identify what constitutes an adverse condition or event.
Specify the unique characteristics of the liquidation basis of accounting.
Recognize audit procedures associated with the going concern topic.
Identify the going concern documentation requirements for the auditor.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Auditing

Prerequisites: None

Advance Preparation: None

Latest Review Date: June 2024

Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.