Home › CA Inter › auditing › Completion and Review › A material uncertainty exists when events cast s…
A material uncertainty exists when events cast significant doubt on the entity's ability to:
Aappoint a new auditor
Bchange its financial year
Cpay the audit fee
Dcontinue as a going concern
Answer & Solution
Correct answer: D. continue as a going concern
A material uncertainty casts significant doubt on going concern.
Related questions
If management's going concern assessment covers less than twelve months, the auditor shoulWhere the financial statements are amended due to a subsequent event, the auditor should:Subsequent events procedures ordinarily cover the period up to the date of the:Reviewing whether sufficient appropriate audit evidence has been obtained is a key activitA written representation letter is signed by:Events occurring after the financial statements are issued, of which the auditor becomes aInquiry of the entity's legal counsel regarding litigation and claims is typically performIf adequate disclosure about a material going concern uncertainty is made, the audit opini