One of the most essential elements of an audit is the determination of whether a client can continue as a going concern. This auditing CPE course helps the auditor navigate through the going concern topic by covering all related accounting and auditing pronouncements and providing multiple disclosure examples. It also itemizes a number of best practices to improve the process of identifying going concern situations and evaluating management remediation plans.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the criteria for a going concern evaluation.
Identify what constitutes an adverse condition or event.
Specify the unique characteristics of the liquidation basis of accounting.
Recognize audit procedures associated with the going concern topic.
Identify the going concern documentation requirements for the auditor.
Major Topics
Governmental Going Concern Issues
Risk Assessment Procedures
Auditor's Issues
Communication Issues
Auditor Best Practices
