Going Concern


To gather information and perform research related to the public interest topic of the auditor’s responsibilities with regard to going concern in an audit of financial statements in order to further inform the nature and extent of possible future IAASB actions in this area.

Project Contact

Working Group

Project Stages

Board Papers

August 2020

CAG Papers

September 2020

Issued Document

Discussion Paper: Fraud and Going Concern in an Audit of Financial Statements


Expectation Gap and Auditor Reporting Roundtable – Cover-note and Agenda Fraud and Going Concern in Less Complex Entities – Cover-note and Agenda Key Takeaways from IAASB's Roundtable Series on Fraud and Going Concern


At the August 2020 meeting, the Board was briefed on information gathering activities undertaken to date on the topic of going concern.  In addition, the Board discussed a proposed Discussion Paper (DP) related to the expectation gap to help inform possible IAASB future actions in relation to fraud and going concern in an audit of financial statements. The Board was broadly supportive of the DP and gave some comments for consideration in the final version.  Subject to changes to address comments raised by Board members, the Board agreed that the DP be published with a 120-day comment period in time for a related roundtable (Scheduled for September 28th, 2020) to discuss the matters within the DP.


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