Rex O'Connor is the auditor of Gold Minerals Ltd (GML) a mining company in Western Australia. Rex has performed some analytical tests as part of his assessment of GML's ability to continue as a going concern as per ASA570.

He has collected the following information for the 2022 reporting period.

Ratio	2019	2020	2021	2022
Current Ratio	1.1	0.7	0.9	1.0
Receivables Turnover Ratio	8.2 Times	6.9 Times	8.3 Times	8.4 Times
Debt Ratio	0.4	0.6	0.5	0.5
Times Interest Earned Ratio	7.3 Times	6.1 Times	6.7 Times	6.6 Times

Using only the information above, provide a brief report outlining whether you think GML is a going concern as per ASA570.

Answer rating: 100% (QA)

Based on the analytical tests performed by Rex OConnor it appears that Gold Minerals Ltd GML has sho... View the full answer