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Proposed International Standard on Auditing 570 (Revised 202X) Going Concern and Proposed Conforming and Consequential Amendments to Other ISAs

Exposure Draft
Apr 26, 2023 | Exposure Drafts and Consultation Papers
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These proposed revisions for International Standard on Auditing 570 (Revised), Going Concern, aim to:

  • Promote consistent practice and behavior and facilitate effective responses to identified risks of material misstatement related to going concern;
  • Strengthen the auditor’s evaluation of management’s assessment of going concern, including reinforcing the importance, throughout the audit, of the appropriate exercise of professional skepticism; and
  • Enhance transparency with respect to the auditor’s responsibilities and work related to going concern where appropriate, including strengthening communications and reporting requirements.
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