Explain auditor responsibilities regarding going-concern disclosures under GAAS. Contrast these with GAAP requirements and discuss ways of

Question:

Explain auditor responsibilities regarding going-concern disclosures under GAAS. Contrast these with requirements and discuss ways of reconciling the two.

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...