Auditing going concern in the covid-19 era and the revised Isa (UK) 570

Abstract

The world is now a very different place from what it was at the start of 2020. In a matter of months, COVID-19 has swept across the globe. The pandemic subsequently led to travel restrictions, business closures, cancelled events, and lock downs. Governments responded with a range of financial support in an attempt to support jobs and businesses. The impact of COVID19, is very likely to form part of the directors’ assessment when preparing their strategic reports and financial statements. Auditors will also need to assess the impact of any uncertainties on the audit report