Acting for small clients - going concern

Hi All

Hope you are all well.

Over the last few weeks, I've come across a couple of practitioners around the country that have had regulatory visits from their professional bodies. Now, I don't know the protocol with AAT members in practice and how often you guys are scrutinised, but from my discussions with these practitioners it seems some of the professional bodies are placing an increased emphasis on how accountants assess a client's going concern ability and it seems that going concern is on the 'hit list' with a few practitioners getting slapped wrists.

I have today put this article up on my website which details the concerns practitioners need to take into consideration. It is relevant for clients that are both not subject to audit and those who are (but audit clients are also subjected to ISA 570). It's prob worth a quick scan through if only to make sure that you are aware of the guidance that has been issued as it seems this guidance has moved up the ranks over the last couple of years.




  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 ? ? ?
    Thanks for the heads-up Steve, will have a read :)
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Thanks steve

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