New audit alert on going-concern assumptions

01/23/2009 | WebCPA

Because today's economic conditions make the auditor's assessment of a company's going-concern assumption more important -- and potentially more complex -- than in the past, the International Auditing and Assurance Standards Board has released a new practice alert. Additional guidance for auditors is provided by the document "Audit Considerations in Respect of Going Concern in the Current Economic Environment."

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