All Going Concern articles
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ArticleReport: Record low number of going concern opinions in FY2020
Public companies receiving going concern audit opinions during fiscal year 2020 were at the lowest number and percentage in the past 21 years, with little change among common issues, according to the latest report from Audit Analytics.
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ArticleWhat companies/auditors need to know for 2021 year-end audits
The continued effects of the pandemic, along with the implementation of new accounting standards, have companies and their auditors confronting substantial change in year-end audits.
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ArticleStudy: How COVID-19 has affected public company financials
Disruptions to normal operations and shifts in work environments as a result of the COVID-19 pandemic caused an increase in late filings and changes to controls, according to new research from Audit Analytics.
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ArticleFive key going concern considerations for 2021 reporting
Evaluating potential going concern issues was a hot topic for companies and their auditors in 2020. With first-quarter 2021 reporting around the corner, Maria Murphy offers five key considerations to be thinking about.
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ArticleThings to consider for companies preparing for 2020 year-end audits
It’s no surprise that in a year like no other, there are a number of factors to consider for year-end audits that you might not be used to thinking about.
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ArticleDeloitte: Top-of-mind challenges for Q3 financial reporting
A new report from Deloitte highlights third-quarter financial reporting and accounting challenges that should be top of mind as the coronavirus pandemic continues with no end in sight.
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ArticleCAQ: Virtual work, ICFR among coronavirus audit issues
The Center for Audit Quality advisory board member firms met with CAQ Executive Director Julie Bell Lindsay to discuss concerns relating to the coronavirus pandemic.
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ArticleStudy: Going concern opinions in 2018 at lowest level in 19 years
Public company audit opinions communicating doubts about their ability to continue as going concerns reached a 19-year low in 2018, based on the latest report from Audit Analytics.
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Blog
Going concern opinions drop in 2016, study shows
Corporate filings flagging doubt over a company’s ability to continue as a going concern reached a low in 2016, according to the newest research.
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Blog
Audit leaders issue another year-end alert on key risks
Audit leaders have handed out yet another alert to auditors to dig into high-risk areas as they prepare for the upcoming year-end audit cycle.
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Blog
Going concern rules produce puzzling disclosure scenario
Companies and their auditors are following different going concern disclosure rules, leading to a puzzling disclosure from Sears that has left capital market players scratching their heads.
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Blog
Going concern audit rules updated for private, not public, companies
Private company audits soon will reflect new standards around the going concern call, but public companies will be getting their new standards no time soon. Tammy Whitehouse reports.
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Blog
Going concerns fall in 2015, but not due to better financials
Going concern filings appear to have tapered off in 2015, but that doesn’t necessarily mean public company balance sheets are getting healthier. More from Tammy Whitehouse.
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Blog
Going Concerns Fall in 2014 in “Mixed Bag” of Results
According to the latest data from Audit Analytics, the number of audit opinions that included a question from auditors regarding whether the company could remain in business another year appears to have fallen in 2014 from 2013. Based on this estimation, the research firm says 2014 going-concern opinions finished out ...
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Blog
Final 2013 Going-Concern Filings Expected to Decline
Audit firms’ going-concern warnings dropped again in 2013, for the sixth year in a row, according to a recent study from Audit Analytics. A review of opinions on 2013 financial results (issued throughout the course of 2014) indicates a drop of 5.9 percent from warnings for 2012. More study details ...
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Blog
CAQ Reminds Auditors of Hot-Button Audit Issues
Image: A new Center for Audit Quality alert highlights issues that auditors will need to pay special attention to in the year-end review, such as revenue recognition, related-party transactions, and more. “This alert summarizes potential areas of risk and can be a useful resource for our auditing firm members as ...