ABC Co. has incurred net losses for the past three consecutive years and has some significant bank
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Question:
ABC Co. has incurred net losses for the past three consecutive years and has some significant bank loans coming due at the end of its current fiscal year.
Required:
a) Identify any factors that may indicate a going-concern issue for ABC Co.
b) Describe the process the independent auditor should follow to evaluate whether ABC Co. is a going concern.
c) Identify five additional procedures that the independent auditor should perform in relation to ABC Co.'s ability to continue as a going concern.
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
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