Specific matters that require special consideration Flashcards
1
Q
Plans/examples to mitigate going concern issues
A
- Dispose of business units or major assets
-Cut/delay expenditures
-Barrow/restructure debt
-Sell stock (increase ownership equity)
2
Q
Identifying loss contingencies
A
3
Q
Audit purposes for observing physical inventory count
A
4
Q
Examples of substantive procedures: marketable debt trading security investments are FV
A
5
Q
Tests of completeness assertion for liabilities
A
6
Q
Procedures to test going concern
A
7
Q
Indications of a going concern problem (examples)
A
8
Q
Dividend or interest income validation
A
9
Q
Government auditing standards, (Fraud considerations
A
