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ACCA AA持续经营审计管理层责任
文章来源：ACCA全球官网
发布时间：2021-09-29 14:30
阅读：718次
Management’s responsibility
The concept of going concern is particularly relevant in times of economic difficulties and in some situations management may determine that a profitable company may not be a going concern,for example because of significant cash flow difficulties.It is important that candidates understand that it is the responsibility of management to make an assessment of whether the use of the going concern basis of accounting is appropriate,or not,when they are preparing the financial statements.
In order to conclude as to whether,or not,an entity is able to continue in business for the foreseeable future,management will have to make judgments on various uncertain future outcomes of events or conditions.ISA 570 outlines three factors that are relevant and which management must take into consideration when determining whether,or not,an entity can prepare the financial statements on the going concern basis:【点击免费下载>>>更多ACCA学习相关资料】
The degree of uncertainty associated with the outcome of an event or condition increases significantly the further into the future an event or condition or the outcome occurs.For that reason,most financial reporting frameworks that require an explicit management assessment specify the period for which management is required to take into account all available information.
The size and complexity of the entity,the nature and condition of its business and the degree to which it is affected by external factors affect the judgment regarding the outcome of events or conditions.
Any judgment about the future is based on information available at the time at which the judgment is made.Subsequent events may result in outcomes that are inconsistent with judgments that were reasonable at the time they were made.(1)
A past exam question,for eight marks,required candidates to:‘Identify any potential indicators that the company is not a going concern and describe why these could impact upon the ability of the company to continue trading on a going concern basis.’
The scenario presented to candidates gave an abundance of warning signals that management’s assessment of going concern may not be appropriate in the circumstances.These warnings signals were:
a growth in the level of competition faced by the company
significant decline in demand for its products
failing to re-invest in new product development
difficulties in recruiting suitably trained scientific staff
an inability to agree suitable financing terms with the bank
significant investment in new plant and machinery using an overdraft(a short-term borrowing facility which carries higher rates of interest)
delayed payments to suppliers with some suppliers withdrawing credit and insisting on cash on delivery,which further impacts the overdrawn balance at the bank
cash flow forecast showing a significantly worsening position within the next 12 months.
In the AA exam,candidates must be able to identify factors that may have an impact on an entity’s ability to continue as a going concern.The factors described above are not exhaustive and there are many other indicators that an entity may not be a going concern,such as:
inability to pay dividends to shareholders
major losses or cash flow difficulties that have arisen since the reporting date
adverse key financial ratios
indications of withdrawal of financial support from the bank or other financial institutions
negative operating cash flows
major debt repayments falling due which the entity will not be able to meet
pending legal or regulatory proceedings against the entity that may,if successful,result in claims that are unlikely to be satisfied
If there are any material uncertainties relating to the going concern assumption,then management must make adequate going concern disclosures in the financial statements.
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