31386 paragraphs found
Cash flow projections and other financial metrics-based criteria traditionally used in making going concern assessments are often less relevant in the public sector for those entities that are funded by government through annual appropriations and grants, …
To effectively plan and implement audit procedures that appropriately respond to going concern related risks, public sector auditors require a clear understanding of how the concept of going concern is applied to the public sector entity they are …
Public sector auditors may need to obtain a detailed understanding of what, if any, going concern risks apply to the public sector entity and on what basis the going-concern assumption is appropriate. For example, whilst some public sector entities may …
Whilst the public sector auditor must determine that the use of the going concern basis of accounting is appropriate for each public sector entity in accordance with the requirements of ASA 570, there also may be other forms of public reporting (such as …
This section of the GS provides supplementary guidance to reflect the public sector perspective on going concern related to: …
The concept of going concern in the public sector (ASA 570, paragraphs 2 and A2). …
Risk assessment procedures and related activities (ASA 570, paragraphs 10-11 and A3-A4, A7). …
Additional audit procedures when events or conditions are identified (ASA 570, paragraphs 16 and A16-A19). …
Auditor conclusions and reporting (ASA 570, paragraphs 17-24 and A21-A35) …