Effectively applying ASA/ISA 570 Going Concern

Building on GAAPinar No.2, which focuses on Going Concern financial reporting issues, this session analyses the going-concern basis of accounting from an audit perspective.

Report 799 ASIC’s oversight of financial reporting and audit 2023–24 identified that an auditor did not adequately assess the appropriateness of the going concern assumption and disclosure of a material uncertainty about going concern, including the impact of a subsequent event related to possible non-compliance with a loan covenant. Not an uncommon occurrence.

This GAAPinar looks at an auditor’s risk and management assessments, audit documentation and reporting. We will also review proposed amendments to the standard that could be applied now to reduce audit risk and improve quality.

$360.00 Book GAAPinar

This session is presented by:

Colin Parker

Principal | GAAP Consulting

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.

Jessica-Anne Saayman

Director | QA Assist

Jessica is a result driven, energetic Independent Consultant and Specialist in Assurance Consulting Services with more than 26 years’ proven experience in technical, ethics, quality and peer reviews, accounting, listed and unlisted, multinational corporation, public sector audits, including advisory opportunities such as merger and acquisitions and forensics.

Her industry exposure includes healthcare, steel, property, manufacturing, distribution, consumer business, short term insurance, Not-For-Profit and government/public sector; with cumulative experience at partner level (mid-tier and big 4) in external audit for more than a decade.