The International Auditing and Assurance Standards Board (IAASB) recently issued a nonauthoritative publication to address some common questions related to reporting going concern matters in the auditor’s report.
Specifically, the FAQ focuses on the use of and interrelationship of the Material Uncertainty Related to Going Concern and Key Audit Matters sections, and the Emphasis of Matter paragraphs in an auditor’s report prepared in accordance with the International Standards on Auditing.
The IAASB adds that the FAQ does not override or substitute the need for reading the international standards. Learn more.