Course Description

This course features highlights of the ISCA Conference 2025 held on 12 November 2025.

Synopsis:

SSA 570 (Revised 2024) Going Concern, expected to be issued in Q1 2026, responds to corporate failures that highlighted gaps in how going concern risks are assessed and communicated. Effective for audits of financial statements for periods beginning on or after 15 December 2026, the revised standard significantly strengthens auditors’ responsibilities in evaluating an entity’s ability to continue as a going concern.

Correspondingly, management will now be expected to prepare a robust going concern assessment every year, regardless of risk indicators, with greater scrutiny on assumptions, data reliability, and bias. The extended assessment period and heightened documentation expectations mean preparers must be ready for deeper auditor challenge and earlier coordination.

Key enhancements include:

• Robust and timely risk assessments to identify events or conditions that may cast significant doubt on an entity’s ability to continue as a going concern.
• Evaluating management’s assessment regardless of whether such events or conditions are identified, with greater emphasis on management bias, reasonableness of assumptions, and reliability of underlying data.
• Extended evaluation period to at least 12 months from the date of approval of the financi al statements, providing more relevant, forward-looking insights.
• Enhanced transparency through clearer auditor reporting and strengthened communication with those charged with governance.

This session will keep auditors and preparers up to date on the critical revisions, equipping them to respond to stakeholders’ heightened expectations on going concern.

Intended For:

• Audit Professionals / PAIP
• Finance Professionals  / PAIB 
• Public Sector Finance
• C-suite & Directors 

Competency Mapping: 

• CPE Category 3 = 0.5 CPE Hour