Going Concern
FEATURED ARTICLES
All articles in this category pertain to going concern. Going concern is the assumption a business has the resources and financial means to continue operating for the foreseeable future. Part of an auditor’s review of a company is to assess whether the company achieves a going concern. If an entity’s going concern is in question, the entity must include that information in their financial statements.
Learn more about going concern below.
Recent articles
Managing the Going Concern Risk in an Uncertain Environment
In Brief The worldwide COVID-19 pandemic has affected businesses of every size in every country, and the United States has been hit particularly hard. Many businesses are facing increasing doubts about their ability to continue as a going concern, and the decisions...
Financial Reporting and Auditing Implications of the COVID-19 Pandemic
This article explores the way COVID-19 impacts financial reporting and audits.
The Going Concern Gap in U.S. GAAP
Recent events, such as the fiscal crisis of 2007–2008 and the economic recession that followed, have prompted concerns about whether investors have received sufficient notice of impending corporate bankruptcy. According to data available from New Generation Research,...
PCAOB Urges Auditors to Follow Standards on Going Concern
The Public Company Accounting Oversight Board (PCAOB) on Monday reminded auditors that they should continue adhering to the board’s existing standards when considering an organization’s ability to operate as a going concern. In Staff Audit Practice Alert No. 13,...