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ACCA AA关于持续经营的审计
文章来源：ACCA全球官网
发布时间：2021-09-27 14:19
阅读：1040次
Reporting in line with ISA 570,Going concern
Exam questions might ask the candidate to recognise indicators that an entity may not be a going concern,or require candidates to arrive at an appropriate audit opinion depending on the circumstances presented in the scenario.It may be the case that candidates are presented with a situation where the auditor has concluded that there are material uncertainties relating to going concern and the directors have made appropriate disclosures in relation to going concern and candidates must understand the auditor reporting requirements in this respect.
The auditor’s work in relation to going concern has been enhanced in ISA 570(Revised),Going Concern and the ISA includes additional guidance relating to the appropriateness of disclosures when a material uncertainty exists.
Under ISA 570(Revised),if the use of the going concern basis of accounting is appropriate but a material uncertainty exists and management have included adequate disclosures relating to the material uncertainties the auditor will continue to express an unmodified opinion,but the auditor must include a separate section under the heading‘Material Uncertainty Related to Going Concern’and:
draw attention to the note in the financial statements that discloses the matters giving rise to the material uncertainty,and
state that these events or conditions indicate that a material uncertainty exists which may cast significant doubt on the entity’s ability to continue as a going concern and that the auditor’s opinion is not modified in respect of the matter.
The section headed‘Material Uncertainty Related to Going Concern’is included immediately after the Basis for Opinion paragraph but before the KAM section.It should be noted that where the uncertainty is not adequately disclosed in the financial statements the auditor would continue to modify the opinion in line with ISA 705,Modifications to the Opinion in the Independent Auditor’s Report.
Over and above the reporting requirements under ISA 570,candidates need to understand how issues identified regarding going concern interact with the requirements of ISA 701.By their very nature,issues identified relating to going concern are likely to be considered a key audit matter and hence need to be communicated in the auditor’s report.Where the auditor has identified conditions which cast doubt over going concern,but audit evidence confirms that no material uncertainty exists,this‘close call’can be disclosed in line with ISA 701.This is because while the auditor may conclude that no material uncertainty exists,they may determine that one,or more,matters relating to this conclusion are key audit matters.Examples include substantial operating losses,available borrowing facilities and possible debt refinancing,or non-compliance with loan agreements and related mitigating factors.【点击免费下载>>>更多ACCA学习相关资料】
In summary if a confirmed material uncertainty exists it must be disclosed in accordance with ISA 570 and where there is a‘close call’over going concern which has been determined by the auditor to be a KAM it will be disclosed in line with ISA 701.This is illustrated in the following example:
Example–unmodified audit opinion but material uncertainty exists in relation to going concern and the disclosures are adequate
Report on the Audit of the Financial Statements(extract)
Opinion
In our opinion,the accompanying financial statements present fairly,in all material respects,the financial position of the Company as at 31 December 20X5,and its financial performance and its cash flows for the year then ended in accordance with IFRS®Standards.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing(ISAs).Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in Farland,and we have fulfilled our other ethical responsibilities in accordance with these requirements.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty related to going concern
We draw attention to Note 6 in the financial statements,which indicates that the Company incurred a net loss of$125,000 during the year ended 31 December 20X5 and,as of that date,the Company’s current liabilities exceeded its total assets by$106,000.As stated in Note 6,these events or conditions,along with other matters as set forth in Note 6,indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern.Our opinion is not modified in respect of this matter.
Key audit matters
Key audit matters are those matters that,in our professional judgment,were of most significance in our audit of the financial statements of the current period.These matters were addressed in the context of our audit of the financial statements as a whole,and in forming our opinion thereon,and we do not provide a separate opinion on these matters.In addition to the matter described in the Material Uncertainty Related to Going Concern section,we have determined the matters described below to be the key audit matters to be communicated in our report.
[Include a description of each key audit matter]
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