This material will focus on FASB and AICPA pronouncements regarding an entity’s going concern assumption. The effects of threats to the continued existence of an entity on generally accepted accounting principles, management’s responsibility and audit procedures will be discussed.

Topics covered:

• Professional standards affecting going concern issues
• How to find contrary information
• Overcoming threats to continued existence
• Auditing managements’ plans to overcome going concern threats
• Financial statements and footnotes disclosures for going concern issues
• Auditors’ and accountants’ reports reflecting going concern issues

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