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Auditors Have Been Criticized in the Past for Not Paying

Question 5

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Auditors have been criticized in the past for not paying enough attention to the issue of going concern. How has ISA 570 - Going Concern addressed this expectation gap?


A) Auditors must get external verification that the entity is a going concern.
B) Auditors must look at a longer time frame when assessing going concern.
C) Auditors must qualify the accounts if there is significant uncertainty that the entity is a going concern.
D) Auditors must specifically obtain sufficient appropriate audit evidence about management's use of the going concern assumption.

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