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Going concern uncertainity.

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Going concern uncertainity.

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • June 2, 2018 at 8:33 pm #455595
    ashikhkonvict
    Member
    • Topics: 6
    • Replies: 7
    • ☆

    Hi mike,

    A query, could an uncertainity on going concern be put up as a business risk? Up to what extent? I obviously cant include financial data, can i?

    June 2, 2018 at 9:05 pm #455603
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23315
    • ☆☆☆☆☆

    The following paragraph is an extract from the technical article reference:

    https://www.accaglobal.com/us/en/student/exam-support-resources/professional-exams-study-resources/p7/technical-articles/going-concern.html

    “Business risks include risks that could reduce the company’s profit and/or cash inflows, and could ultimately mean that either a company is not a going concern, or that there are significant doubts over its ability to continue as a going concern. Identification of this heightened risk at this initial stage in the audit cycle means that additional audit procedures can be planned as a response to the specific risks identified.”

    I believe that that answers your question

    OK?

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  • The topic ‘Going concern uncertainity.’ is closed to new replies.

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