Evaluating Going Concern
Presenters : Caryn Maitland CA(SA)
Overview
With the current unpredictable business environment caused by rolling blackouts and economic uncertainty, some entities are reassessing their ability to continue as a going concern.
The impact on going concern is pervasive throughout the financial statements from how we view the directors decision to the manner in which we prepare the values in the financials.
Going concern is a critical assessment of the health and sustainability of the company. If we get this wrong then users of financial information pay the price.
Learning objectives
By attending this webinar you will develop the following competencies:
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Know when and how to apply the fundamental concept of going concern.
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Differentiate between reporting on the going concern versus liquidation basis.
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Understand the impact the disclosure of going concern has on the directors' report and financial statements.
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Understand the impact of going concern on the assurance reports.
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Recognise important factors to consider when assessing going concern.
Content
The webinar will cover the following topics from a foundational to an advanced level:
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Going concern defined.
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The Conceptual Framework for financial reporting.
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The Companies Act - Solvency and liquidity.
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Disclosure of going concern.
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International Standards on Auditing relating to auditor reporting.
