Going Concern Uncertainty: Complying with the New Requirements When Preparing or Reporting on Financial Statements Webinar

• Discuss red flags indicating possible going concern uncertainty
• Differentiate between the external accountant’s and management’s responsibility related to identifying, evaluating, presenting and disclosing going concern uncertainty
• Discuss how to obtain sufficient appropriate evidence to evaluate management’s assertions about an entity’s ability to continue as a going concern for a reasonable period of time
• Describe the independent accountant’s report options under preparation of financial statement, compilation, review and audit engagements when uncertainty associated with going concern exists

• Current FASB accounting standards related to going concern, including the new requirements of ASU 2014-15
• Evaluating risk of material misstatement in financial reports related to improper presentation and disclosure of going concern uncertainty
• The responsibility of an independent accountant for evaluating going concern uncertainty under various levels of engagement to perform attest and nonattest services
• New requirements of SAS No. 132 related to an auditor’s responsibility for considering going concern uncertainty