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“Going concern” concerns

$225.00

SKU: CLRjj142. Category: .

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Abstract: CPAs reconsider the “going concern” assumption every time they audit financial statements. When the long-term viability of a borrower is doubtful, it may cause the CPA to issue a qualified audit opinion — or, worse, to withdraw from the job altogether. This article discusses the different types of audit opinions, which may have serious implications about a borrower’s ability to operate as a going concern. It also provides an update on FASB’s latest plans to reduce diversity in financial reporting about going concern issues.

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