IAS Summary

Assess going concern:

• Review latest trading results of the compnay, by inspecting management accounts after the year end
• Assessing the cash the company has (by agreeing bank statements, loan agreements,etc) and the cash th ecompnay could generate:
• assets that could be sold
• assets that coudl be used as a security for a loan
• receivables that could be collected (or sold to a factor)
• Assessing the state of the industry
• Obtaining a written representation from the Board that the compnay is a going concern
• Assessing compnay forecasts for reasonableness