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Going concern

07.07.2020 | Duration: 15:39

An overview discussion of going concern assessments and financial reporting implications.

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Podcast overview

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

Applicability

  • All companies

Relevant dates

  • Effective immediately

Podcast contents

  • 01:00聽鈥� Liquidity drivers in the current economy
  • 02:15聽鈥� Overview of liquidity and going concern disclosures
  • 04:05聽鈥� Management鈥檚 assessment of whether there is 鈥榮ubstantial doubt鈥� about the company鈥檚 ability to continue as a going concern
  • 06:20聽鈥� Assessing items that are harder to predict, such as legal contingencies and acceleration clauses in debt agreements
  • 08:10聽鈥� If there is substantial doubt, whether management鈥檚 plans mitigate that doubt 鈥� and differentiating actions from plans
  • 11:05聽鈥� 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聽鈥� Practical tips on making the process of assessing going concern easier, including risk assessment process and control environment

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Financial reporting impacts of COVID-19

Guidance, updates and news covering financial reporting impacts of COVID-19

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Meet our team

Image of Brian Fields
Brian Fields
Audit Transformation Leader, 乐鱼（Leyu）体育官网 US
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Image of Tim Phelps
Tim Phelps
Partner, Dept. of Professional Practice, 乐鱼（Leyu）体育官网 US
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Image of Brian Fields
Brian Fields
Audit Transformation Leader, 乐鱼（Leyu）体育官网 US
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Image of Tim Phelps
Tim Phelps
Partner, Dept. of Professional Practice, 乐鱼（Leyu）体育官网 US
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