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GC procedures

This topic has 4 replies, 2 voices, and was last updated 7 years ago by Ken Garrett.

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July 18, 2018 at 4:36 pm #463747
johnparkar
Member
- Topics: 6
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Hi
There was a question in Sept 2016 (Elounda), in which question asked procedures auditor should perform in assessing whether company is going concern or not . The answer which is given by examiner would still be valid for 2018 na, there hasn’t been any change in this na?
July 18, 2018 at 4:57 pm #463748
Ken Garrett
Keymaster
- Topics: 10
- Replies: 10625
No changes. That remains a good ‘teaching’ answer. Carry out all those tests and enquiries (then, perhaps, toss a coin ?).
July 18, 2018 at 6:00 pm #463754
johnparkar
Member
- Topics: 6
- Replies: 3
Sir I did not understand what do you mean to say by toss a coin?
July 18, 2018 at 6:01 pm #463755
johnparkar
Member
- Topics: 6
- Replies: 3
By toss a coin you mean to say that to conclude whether company is GC or not? Right?
July 19, 2018 at 7:50 am #463809
Ken Garrett
Keymaster
- Topics: 10
- Replies: 10625
Yes. It was simply making the point (I thought in a mildly humourous way) that despite all investigations GC is a matter of judgement and can easily be wrong.
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