Posts Tagged ‘going concern’
Previous post introduced the issue of what to do when something comes to an accountant’s attention during a review or compilation that there is some uncertainty whether the client will be around for a year after the balance sheet date.
What to do if you find yourself in that situation? Here is a casual translation of the SSARS description:
What should you do if it seems like there is a going concern issue on a review or compilation?
SSARS 19 discusses how to handle the situation when something comes to the accountant’s attention that there is some uncertainty about the organization’s ability to continue as a going concern for a reasonable period of time.
Wow, how’s that for a sentence that begs for some definition?