Management Unable or Unwilling to make Assessment Flashcards
Result of management unable or unwilling to make assessment on going concern basis?
Auditor should express a qualified or disclaimer of opinion due to insufficient appropriate audit evidence
How should auditor communicate?
Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern
Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern (events material)
Whether events or conditions constitute a material uncertainty
Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern (assumption preparation presentation FS)
Whether use of going concern assumption is appropriate in preparation and presentation of FSs
Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern (adequacy disclosure)
Adequacy of related disclosures
Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern (applicable report)
Where applicable, the implications for auditor’s report