Thursday 6 April 2017


12:00 am


1.5 hours

Session Topic

Going concern financial reporting and auditing

The number of preparers and auditors who fail to understand the financial and auditing requirements of ‘going concern’ is surprising. Enhanced audit-reporting standards, which operate for 30 June 2017 audits, have changed how going matters are addressed.
This session will:

  • Describe the going-concern requirements of AASB 101 Presentation of Financial Statements as well related requirements in other AASBs
  • Review the auditing rules in ASA 570 Going Concern, and
  • Address how going issues are now to be reported under the suite of enhanced audit-reporting standards (KAM, modified opinion or emphasis of matter).
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

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.