Statements of Position

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Description

Because businesses sometimes fail shortly after auditors have expressed unqualified opinions on their financial statements, the public has questioned whether auditors have assumed sufficient responsibility for evaluating the continued existence of an entity. The Auditing Standards Board is issuing this proposed statement on auditing standards to better serve the users of financial statements by requiring the auditor to evaluate continued existence in all audits and to modify the audit report when substantial doubt exists about an entity's continued existence.

ISBN

ed87-02-14-1

Publication Date

1987

Relational Format

Book

Keywords

Going concern (Accounting)

Disciplines

Accounting | Taxation

Comments

Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants; Exposure draft (American Institute of Certified Public Accountants), 1987, Feb. 14

Proposed statement on auditing standards : the auditor's consideration of an entity's ability to continue in existence ;Auditor's consideration of an entity's ability to continue in existence

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