Document ID: chunk:federal_register_of_legislation:F2023C00340:front:0:p2
Version: federal_register_of_legislation:F2023C00340
Segment Type: other
Provision Reference: 
Character Range: 3190–7036

INTERNATIONAL STANDARDS ON AUDITING

Paragraphs

Application......................................................Aus 0.1-Aus 0.2

Operative Date............................................................Aus 0.3

Introduction

Scope of this Auditing Standard..................................................1
Going Concern Basis of Accounting...............................................2
Responsibility for Assessment of the Entity's Ability to Continue as a Going Concern..........3-7
Effective Date...............................................................8
Objectives..................................................................9
Requirements
Risk Assessment Procedures and Related Activities.................................10-11
Evaluating Management's Assessment..........................................12-14
Period beyond Management's Assessment..........................................15
Additional Audit Procedures When Events or Conditions are Identified.....................16
Auditor Conclusions.......................................................17-20
Implications for the Auditor's Report...........................................21-24
Communication with Those Charged with Governance.................................25
Significant Delay in the Approval of Financial Report..................................26
Application and Other Explanatory Material
Scope of this Auditing Standard.................................................A1
Going Concern Basis of Accounting..............................................A2
Risk Assessment Procedures and Related Activities................................A3-A7
Evaluating Management's Assessment........................................A8-A13
Period beyond Management's Assessment.....................................A14-Aus A15.1
Additional Audit Procedures When Events or Conditions are Identified................A16-A20
Auditor Conclusions.....................................................A21-A25
Implications for the Auditor's Report....................................A26-Aus A35.1
[Aus] Appendix 1: Linking Going Concern Considerations and Types of Audit Opinions
Appendix 2: Illustrations of Auditor's Reports Relating to Going Concern

COMPILATION DETAILS

Auditing Standard ASA 570 Going Concern (as Amended)

This compilation takes into account amendments made up to and including 15 March 2023 and was prepared on 22 March 2023 by the Auditing and Assurance Standards Board (AUASB).

This compilation is not a separate Auditing Standard made by the AUASB.  Instead, it is a representation of ASA 570 (December 2015) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard        Date made         Operative Date
ASA 570 [A]     1 December 2015   Financial reporting periods ending on or after 15 December 2016
ASA 2020-2 [B]  30 June 2020      Financial reporting periods ending on or after 15 July 2020
ASA 2020-1 [C]  3 March 2020      Financial reporting periods commencing on or after 15 December 2021[*]
ASA 2021-5 [D]  5 November 2021   Financial reporting periods commencing on or after 15 December 2021
ASA 2023-1 [E]  15 March 2023     Financial reporting periods commencing on or after 1 January 2023

    [A] Federal Register of Legislation – registration number F2015L02015, 15 December 2015

    [B] Federal Register of Legislation – registration number F2020L00885, 7 July 2020

    [C] Federal Register of Legislation – registration number F2020L00252, 13 March 2020

    [D] Federal Register of Legislation – registration number F2021L01525, 8 November 2021

    [E] Federal Register of Legislation – registration number F2023L00295, 21 March 2023

Table of Amendments

Paragraph affected     How affected  By … [paragraph]
Appendix 2             Amended       ASA 2020-2 [41] to [44]