SAS 59 establishes auditor responsibility for evaluating whether there is any doubt about the entity's ability to continue as a going concern for a reasonable period of time. This reasonable period of time is defined as:
A) at least one year past the date of the statements under audit.
B) at least one year past the date of the audit report.
C) not to exceed two years past the date of the audit report.
D) not to exceed one year past the date of the statements under audit.
E) not to exceed one year past the date of the audit report.

Question

Quizplus · Accepted Answer

The Answer of SAS 59 establishes auditor responsibility for evaluating whether there is any doubt about the entity's ability to continue as a going concern for a reasonable period of time. This reasonable period of time is defined as:
A) at least one year past the date of the statements under audit.
B) at least one year past the date of the audit report.
C) not to exceed two years past the date of the audit report.
D) not to exceed one year past the date of the statements under audit.
E) not to exceed one year past the date of the audit report.

SAS 59 Establishes Auditor Responsibility for Evaluating Whether There Is