Procedures for Significant Doubt of Going Concern (1)

Question 1

(Assessment done)

Answer 1

Requesting management to make its assessment where this has not been done

Question 2

(Future action)

Answer 2

Evaluating management’s plans for future action

Question 3

(Reliability cash flow forecast)

Answer 3

Evaluating the reliability of underlying data used to prepare a cash flow forecast and considering assumptions used to make the forecast

Question 4

(Additional facts date assessment)

Answer 4

Considering whether any additional facts or information have become available since the date management made its assessment

Question 5

(written representation governance)

Answer 5

Requesting written representations from management and those charged with governance about plans for future action and feasibility of these plans