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sir what will the outcome in the audit report be if the entity is not a going concern and company has made f/s on breakup basis correctly , and disclosures as well, will we include emphasis of matter para? i know that emphasis of matter para is now not used of going concern, a material uncertainty par is used
and are disclosures in general for going concern increased in the audit report, a a material uncertainty para is issued in particular circumstances so in normal circumstances would there be anything else on going concern?
“i know that emphasis of matter para is now not used of going concern, a material uncertainty par is used”
But it’s no longer a material uncertainty!
It is a racing certainty and the directors have properly prepared and disclosed the fact
I imagine an emphasis of matter paragraph would be appropriate unless, as is probable, the matter is a KAM – it’s likely to have cause the auditor a number of problems during the course of the audit and it is unarguably significant
The scenario that you set up (proper basis of financial statement preparation on a break-up basis, full disclosures, no one left in any doubt) then, no, I can’t think that anything else is necessary
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