Skip to content
CPA Hall TalkCPA Hall Talk
  • Home
  • About
  • Accounting and Auditing
  • Preparation, Compilation & Review
  • Fraud
CPA Hall Talk
Home / Going Concern

Going Concern

Going concern can be an issue for companies and auditors as well.

FASB requires certain disclosures when substantial doubt is present, even if management plans mitigate the risk. So when an entity knows it will not be able to meet its ongoing obligations, it should make an assessment regarding going concern.

Auditors need to determine whether required going concern disclosures are in the financial statements. Additionally, they need to determine if substantial doubt is present. If it is, then a going concern paragraph in the audit opinion is required.

Cash flow statement errors
Accounting

Three Steps to Correct Cash Flow Statement Mistakes

Do you struggle with creating cash flow statements? Would you like to know how to correct cash flow statement…

Read More Three Steps to Correct Cash Flow Statement MistakesContinue

going concern
Preparation, Compilation & Review

Going Concern in Compilation and Review Engagements

Do you need to concern yourself with going concern in compilation and review engagements? Yes, if the financial statements…

Read More Going Concern in Compilation and Review EngagementsContinue

Going Concern Decisions
Accounting Auditing

Going Concern Accounting and Auditing

Are you preparing financial statements and wondering whether you need to include going concern disclosures? Or maybe you’re the…

Read More Going Concern Accounting and AuditingContinue

Charles Hall

Charles Hall

I am a practicing CPA. I have primarily audited governments, nonprofits, and small businesses for the last forty years.

My sweet spot is governmental and nonprofit fraud prevention. I am the author of (1) Journal Entries Made Easy,  (2) The Little Book of Local Government Fraud Prevention, (3) Preparation of Financial Statements & Compilation Engagements, (4) The Why and How of Auditing, and (5) Audit Risk Assessment Made Easy. I frequently speak at continuing education events.

I consult with CPA firms, assisting them with auditing and accounting issues. Contact Charles

More About Me
  • Books
  • Media
  • Topics
Book: Journal Entries Made Easy, an Introduction to Accounting
Book: The Little Book of Local Government Fraud Prevention
Book: Preparation of Financial Statements & Compilation Engagements
Book: Audit Risk Assessment Made Easy: Seeing What Others Miss
Book: The Why And How Of Auditing: Auditing Made Easy
YouTube
CPA Hall Talk's logo

About

  • About CPA Hall Talk
  • Subscribe to Emails
  • Charles Hall on Amazon.com
  • Visit my YouTube Channel
  • Connect on LinkedIn

Categories

  • Accounting and Auditing
  • Preparation, Compilation & Review
  • Technology
  • Local Governments
  • Fraud
    • Asset Misappropriation
    • Corruption
YouTube YouTubeLinkedin Linkedin

© 2025 CPA Hall Talk - Sitemap

  • Home
  • About
  • Accounting and Auditing
  • Preparation, Compilation & Review
  • Fraud
Search