The going-concern assumption must be based on separate procedures that test the client's ability to continue as a going concern.

Name: The going-concern assumption must be based on separate procedures that test the client's ability to continue as a going concern.
Brand: Quizplus
Rating: 4.9 (38 reviews)

Question

Quizplus · Accepted Answer

The going-concern assumption is not solely based on separate procedures but is considered throughout the audit process, including the evaluation of financial statement elements and disclosures, and the assessment of risks and uncertainties.

The Going-Concern Assumption Must Be Based on Separate Procedures That