Question 2b
Marking Guide
up to 1 mark per well explained responsibility | |
| – management assessment of the company’s ability to continue as a going concern and to make appropriate disclosures | |
| –auditor’s responsibility to obtain evidence about the appropriateness of management’s going concern assumption | |
| – auditor consider whether the period of management’s going concern assessment is adequate; no less than 12 months from the date of the financial statements | |
| – auditor should conclude whether there is a material uncertainty about going concern and consider the reporting implications | |
| max marks | 3 |