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Abridged Accounts - Going Concern

  • 06-04-2016 8:47pm
    #1
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭


    Hi All,

    Is a going concern note required to be disclosed in abridged accounts for a small audit company? The emphasis of matter will obviously be included in the auditors report and I'm guessing more than likely that the going concern note also needs to be included but can't find any info on it to confirm.

    Cheers,
    Hcksaw.


Comments

  • #2
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    It depends. If you take the view that the preparation of a set of accounts on a going concern basis forms part of the accounting policies of the company then it should be disclosed as a note in the abridged accounts.

    If on the other hand you take the view that it is a note which just helps the reader of the accounts get a better understanding of the performance of the company or a certain aspect to it and it is not an accounting policy then it may not be disclosed in the abridged accounts.

    That would be my view of it anyway.

    dbran


  • #3
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭HcksawJimDuggan


    Thanks dbran


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