ISA 570 (Revised 2024) — Going Concern

ISA 570 (Revised 2024) is an international pronouncement addressing audit work and reporting in relation to management’s going-concern assessment. IAASB states that this revision is effective for audits of financial statements for periods beginning on or after 15 December 2026; the official September 2026–June 2027 AA and AAA INT examinable list expressly includes this revision. The revised standard strengthens work on management’s going-concern assessment and the transparency of related auditor reporting. Reporting depends on the appropriateness of the basis, the existence of material uncertainty and the adequacy of disclosures; different circumstances can lead to different report outcomes. Under this revision, if management’s assessment covers less than twelve months from the date of approval of the financial statements, the auditor requests that it be extended to at least twelve months from that date.