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Hi, could anybody can explain audit procedure should carried out to determine whether the or not the going concern basis is appropriate for a company ?
christine, my dear friend, have you gone through book yet?
before going on to the procedures, ask yourself if you know what is meant by going concern, what would happen if going concern assumption is not correct yet management prepares its account on this basis. What would they get out of it? Would accounts/financial statements be giving a true and fair view? What procedures should the auditor perform.
This is the approach I use before answering any question. You should know the accounting, writing procedures wouldn’t be a difficult job according to the scenario.
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