Explain auditor responsibilities regarding going-concern disclosures under GAAS. Contrast these with GAAP requirements and discuss ways of reconciling the two.
Answer to relevant QuestionsInvestigate the history and current status of the CICA Exposure Draft on the going-concern assumption that was originally issued in 1996. Use the CICA website, CA Magazine, and other professional publications to conduct this ...What is the purpose of a time budget, and what information does it contain?What official documents and authorizations should an auditor read when performing preliminary analytical procedures? How does overall materiality for the financial statements as a whole differ from overall performance materiality in the auditing standards?What is an “audit client”? How does it differ from an “auditee”?
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