Podcast overview
In this podcast, specialists from our Department of Professional Practice discuss the elements of management’s going concern assessment.
Applicability
- All companies
Relevant dates
- Effective immediately
Podcast contents
- 01:00 – Liquidity drivers in the current economy
- 02:15 – Overview of liquidity and going concern disclosures
- 04:05 – Management’s assessment of whether there is ‘substantial doubt’ about the company’s ability to continue as a going concern
- 06:20 – Assessing items that are harder to predict, such as legal contingencies and acceleration clauses in debt agreements
- 08:10 – If there is substantial doubt, whether management’s plans mitigate that doubt – and differentiating actions from plans
- 11:05 – The financial reporting consequences depending on the outcome of the going concern analysis: no substantial doubt; substantial doubt and not mitigated; substantial doubt but mitigated
- 12:55 – Practical tips on making the process of assessing going concern easier, including risk assessment process and control environment
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