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22WS-1209: Surgent's Going Concern Accounting and Reporting Considerations in the COVID-19 Environment (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Tuesday, December 13, 2022
6:00pm - 8:00pm Central Time
2 CPE (2 technical)

Alternate dates & more options

One of the unfortunate outcomes of the COVID-19 pandemic is the economic stress. Such stress has raised concerns about many entities' abilities to continue as a going concern, which has significant accounting, disclosure, and reporting implications.

This course will review the relevant considerations related to going concern, including when substantial doubt concerning an entity's ability to continue as a going concern exists, management mitigation efforts, and required disclosures both when management, and the accountant, feel such efforts will be effective in mitigating the risk, as well as when they do not. Lastly, we'll consider the accountant's reporting responsibilities under various scopes of services in various scenarios.

Major subjects

  • Current FASB accounting standards related to going concern, including the new requirements of ASU 2014-15
  • Evaluating risk of material misstatement in financial reports related to improper presentation and disclosure of going concern uncertainty
  • The responsibility of an independent accountant for evaluating going concern uncertainty under various levels of engagement to perform attest and nonattest services
  • New requirements of SAS No. 132 and SSARS No. 24 related to an auditor's responsibility for considering going concern uncertainty?

Learning objective(s)

  • Discuss red flags indicating possible going concern uncertainty in the COVID-19 environment
  • Differentiate between the external accountant's and management's responsibility related to identifying, evaluating, presenting, and disclosing going concern uncertainty
  • Discuss how to obtain sufficient appropriate evidence to evaluate management's assertions about an entity's ability to continue as a going concern for a reasonable period of time
  • Describe the independent accountant's reporting options under applicable auditing and other professional services standards when uncertainty associated with going concern exists

Who should take this program?

Accounting and auditing practitioners assisting in the preparation of financial statements

Fees

Our records indicate you are a nonmember. If you register, you will be charged $99.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $99.00
checkmark Standard Nonmember Fee $99.00

More program information

Instructor Richard Daisley, CPA
Location Online
Area
of study
Accounting & audit
Field(s)
of study
Accounting - Technical (2.0)
Level Intermediate
Format Group Internet Based
Sponsor Surgent
NASBA ID#: 103212
Prerequisites Prereq. Experience in accounting and auditing
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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If you have questions about this event, please call us at 952-831-2707.