Main Features 
This Auditing Standard establishes mandatory requirements and provides explanatory guidance to auditors in fulfilling their responsibilities regarding the appropriateness of management using the going concern basis in the preparation of a financial report. This Auditing Standard:

1. requires the auditor, as part of planning, to consider the risk of events occurring or conditions existing that may cast doubt on the entity to continue as a going concern;
 

2. establishes mandatory requirements and provides explanatory guidance to the auditor to evaluate management’s assessment of the entity’s ability to continue as a going concern;
 

3. requires the auditor to conduct further audit procedures upon identification of events or conditions that may cast doubt on the entity’s ability to continue as a going concern;
 

4. establishes mandatory requirements and provides explanatory guidance to auditors on material uncertainty and audit reporting considerations in relation to going concern;
 

5. requires the auditor to communicate with those charged with governance or management the impact of going concern considerations in the auditor’s report; and
 

6. provides illustrations of auditor’s reports modified regarding the going concern basis.