ASU 2014-15 explicitly requires management to assess an entity’s ability to continue as a going concern when preparing and fairly presenting F/S. This course will provide practical insights into the new going concern evaluation and disclosure requirements under U.S. GAAP, generally accepted accounting standards, and the SSARS.
Note: SSARS No. 24 is going to be released in May 2018 and it will enhance the guidance related to going concern reporting on review engagements. The new requirements will be effective for reviews of financial statements with fiscal years ending on or after June 15, 2019.