Accounting and auditing considerations for the impact of COVID-19 on going concern
CPD Hours: 2
Price: R237.50
Accounting and auditing considerations for the impact of COVID-19 on going concern
Presenters : Lettie Janse van Vuuren CA(SA)
Learning objectives
By the end of this event the participant should:
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Understand the implications of the COVID-19 to going concern;
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Be aware of these specific considerations on going concern:
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Management and auditor’s/independent reviewer's/compiler's respective responsibilities;
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Risk assessment procedures undertaken by the auditor/independent reviewer;
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Auditor's/independent reviewer's evaluation of management’s assessment of the entity’s ability to continue as a going concern;
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Periods beyond management’s assessment;
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Additional procedures required; and
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Significant delays in the approval of financial statements.
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Be aware of the link and need to consider subsequent events.
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Be aware of the need to reflect COVID-19 information properly in the AFS; and
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Be aware of the effect on the auditor’s/independent reviewer’s/compiler's report.
Content
The webinar will cover the following topics:
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Introduction - COVID-19 implications on going concern.
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Management's responsibilities.
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Auditor's responsibilities.
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Independent reviewer's/compiler's responsibilities.
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Risk assessment procedures undertaken by assurance practitioner.
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Evaluation of management’s assessment of going concern.
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Periods beyond management’s assessment.
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Additional procedures.
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Consideration of other Information.
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Significant delays in the approval of financial statements.
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Specific considerations of subsequent events.
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Appropriate disclosure of COVID-19 information in AFS.
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Implications for the auditor’s/independent reviewer's/compiler's reports.
