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Executive Summary:

ISSAI 1570 – Going Concern

Purpose:

This Practice Note provides supplementary guidance on ISA 570 – Going Concern

ISSAI Category:

Level 4: General Auditing Guidelines - General Auditing Guidelines on Financial Audit

Target Group:

Public sector external auditors

Principle:

ISA 570 deals with the auditor's responsibilities in the audit of financial statements relating to management's use of the going concern assumption in the preparation of the financial statements

Scope - Content:

The Practice Note provides additional guidance for public sector auditors related to

  • Going concern assumption
  • Evaluating management's assessment
  • Additional audit procedures when events or conditions are identified
  • Use of the going concern assumption appropriate but a material uncertainty exists
Author - Committee:

INTOSAI Professional Standards Committee – Financial Audit Subcommittee

Status:

Approved at XXth Congress of INTOSAI, Johannesburg 2010

Download:

http://www.issai.org/en_us/site-issai/issai-framework/4-auditing-guidelines.htm

Related Documents - Executive Summaries:
Related Documents - ISSAI Full Versions:
Related Documents - Others:

ISA 570 is applicable to auditors of public sector entities in their role as auditors of financial statements


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