Statements on Auditing Standards

Files

Download

Download Full Text (1.4 MB)

Description

This Statement provides guidance to the auditor in conducting an audit of financial statements in accordance with generally accepted auditing standards with respect to evaluating whether there is substantial doubt about the entity's ability to continue as a going concern. Continuation of an entity as a going concern is assumed in financial reporting in the absence of significant information to the contrary. Ordinarily, information that significantly contradicts the going concern assumption relates to the entity's inability to continue to meet its obligations as they become due without substantial disposition of assets outside the ordinary course of business, restructuring of debt, externally forced revisions of its operations, or similar actions.

ISBN

sas59 with cover

Publication Date

1988

Relational Format

pamphlet

Keywords

Auditing -- Standards -- United States; Going concern (Accounting)

Disciplines

Accounting | Taxation

Comments

Copyright and permission to reprint held by: American Institute of Certified Public Accountants

Auditor's consideration of an entity's ability to continue as a going concern

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.