Going concern audit assessment

The auditor evaluates management’s use of the going-concern basis and assessment, challenges the assumptions and evidence, and considers disclosures and reporting. ISA 570 (Revised 2024), listed for AA and AAA INT September 2026–June 2027, requires the auditor to request an extension when management’s assessment covers less than twelve months from the date of approval. Where the basis is appropriate, reporting differs between no material uncertainty and an adequately disclosed material uncertainty. An inappropriate basis or inadequate disclosure has different opinion implications.