Staff Audit Practice Alert: Going Concern

Going Concern in the Current Evolving Environment―Audit Considerations for the Impact of COVID-19

This publication has been prepared to highlight key areas of focus in the current environment when undertaking procedures relating to, and concluding on, the appropriateness of management’s use of the going concern basis of accounting in accordance with the International Standards on Auditing.

It does not amend or override the ISAs, the texts of which alone are authoritative. Reading this publication is not a substitute for reading the ISAs.

Preparers, those charged with governance and users of financial statements may find this publication helpful in understanding the auditor’s responsibilities in relation to going concern, as well as any modifications made to the auditor’s report in respect of any uncertainties related to going concern.


Copyright © 2023 The International Federation of Accountants (IFAC). All rights reserved.


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