Management Unable or Unwilling to make Assessment

Question 1

Result of management unable or unwilling to make assessment on going concern basis?

Answer 1

Auditor should express a qualified or disclaimer of opinion due to insufficient appropriate audit evidence

Question 2

How should auditor communicate?

Answer 2

Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern

Question 3

Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern (events material)

Answer 3

Whether events or conditions constitute a material uncertainty

Question 4

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)

Answer 4

Whether use of going concern assumption is appropriate in preparation and presentation of FSs

Question 5

Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern (adequacy disclosure)

Answer 5

Adequacy of related disclosures

Question 6

Those charged with governance events or conditions that may casy doubt on entity’s ability to continue as a going concern (applicable report)

Answer 6

Where applicable, the implications for auditor’s report