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going concern

This topic has 1 reply, 2 voices, and was last updated 9 years ago by Ken Garrett.

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August 18, 2015 at 12:40 pm #267636
mansoor
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if the client prepares the going assessment for less than 12 months and does not extend it to the 12 months upon auditor’s request .. what recourse does the auditor have?
August 18, 2015 at 5:08 pm #267656
Ken Garrett
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Directors are required to assess going concern and auditors audit that assessment. If it is for less than the 12 months required then the auditors would have to qualify their report on the basis of insufficient appropriate audit evidence.
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