Going concern

Podcast overview

In this podcast, specialists from our Department of Professional Practice discuss the elements of management’s going concern assessment.

Applicability

• All companies

Relevant dates

• Effective immediately

Podcast contents

• 01:00 – Liquidity drivers in the current economy
• 02:15 – Overview of liquidity and going concern disclosures
• 04:05 – Management’s assessment of whether there is ‘substantial doubt’ about the company’s ability to continue as a going concern
• 06:20 – Assessing items that are harder to predict, such as legal contingencies and acceleration clauses in debt agreements
• 08:10 – If there is substantial doubt, whether management’s plans mitigate that doubt – and differentiating actions from plans
• 11:05 – The financial reporting consequences depending on the outcome of the going concern analysis: no substantial doubt; substantial doubt and not mitigated; substantial doubt but mitigated
• 12:55 – Practical tips on making the process of assessing going concern easier, including risk assessment process and control environment