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What does ISA 570 cover?

Intermediate

Answer

ISA 570 deals with going concern: the auditor's responsibility to obtain sufficient evidence about, and conclude on, the appropriateness of management's use of the going concern basis, and whether a material uncertainty exists. It sets out procedures, evaluation of management's assessment, and the reporting implications of going concern issues.
Real-world example Under ISA 570, the auditor evaluates cash-flow forecasts and covenant compliance to assess going concern.

Common follow-ups: What is a material uncertainty related to going concern? | How does going concern affect the report?