Going Concern assessment and its impact on the Auditor’s report



The COVID 19 pandemic has impacted almost all businesses and economies. The resulting lockdown and its after-effects are expected to severely impact revenue, profitability, cash flows, and thus threaten the survival and continuity of businesses. These existing conditions and uncertain environments make going-concern assessment challenging and at the same time a key aspect for audit for the financial year 2019-2020.

 


Learn from an expert on the critical factors to be considered while performing going concern assessment and its implications on the Auditor’s report. Know why COVID 19 makes the going concern assessment challenging and how to address these challenges. In this one-hour webinar, Sagar will share his insights on the importance of going concern assessment in the current business environment, tips on performing going concern evaluation and impact of going concern assessment on the Auditor’s Report. Sagar will share his insights on:

  • Importance of going concern assessment
  • Management’s responsibilities in relation to going concern assumption
  • The Auditor’s responsibilities in relation to going concern assumption
  • Major challenges while performing going concern evaluation
  • Factors to be considered whilst performing going concern evaluation in current environment (COVID 19 implications)
  • Impact of going concern assessment on the Auditor’s Report.   

 

Learning Outcomes

Upon satisfactory completion of this session learners will be able to:

  • Understand the importance of going concern assessment in the current business environment
  • Understand Management and the Auditor’s responsibilities in relation to going concern assumption
  • Identify major challenges and the factors to be considered whilst performing going concern evaluation in the current environment
  • Understand the impact of going concern assessment on the Auditor’s Report.

 

Benefits

Benefit from practical insights and understand the implication of COVID 19 and its after-effects on going-concern assessment and its implications on Auditor’s report. 

 

This webinar is presented by Sagar Adhau a trainer, consultant and author with over 10 years of experience in audit & assurance, consulting and academics.


EVENT DETAILS


Topic: Audit & Assurance

Sub-Topic: Financial Statement Audit

Format: Recorded Webinar

Proficiency Level: All

CPD: Upto 1 hours