... UncertaintiesDisclosure in the nancialstatementsisexpectedwhenmaterialuncertaintyexistsrelatedtoeventsorconditionsthat,aloneor in aggregate,maycastsignicantdoubt on the entity’sabilitytocontinueasagoingconcern. In evaluating the adequacy of suchdisclosures,ISA570indicatesthat the auditorconsiderswhether the nancialstatements:a.Adequatelydescribe the principaleventsorconditionsthatgiveriseto the signicantdoubt on the entity’sabilitytocontinue in op-erationandmanagement’splanstodealwiththeseeventsorconditions;andb.Stateclearlythatthereisamaterialuncertain-tyrelatedtoeventsorconditionswhichmaycastsignicantdoubt on the entity’sabilitytocontinueasagoingconcernand,therefore,thatitmaybeunabletorealizeitsassetsanddischargeitsliabilities in the normalcourse of business.20Forming the Opinion on the Financial Statements and the Implications for the Auditor’s ReportBased on the auditevidenceobtained, the auditorconcludeswhethermanagement’suse of the goingconcernassumption in the preparation of the nancialstatementsisappropriateanddetermineswhattype of opinionistobeissued in the circumstances.If the auditorconcurswithmanagement’sassessment,anunqualiedopinion ... the ISAsthatarerelevantto the engagement.1Background The goingconcernassumptionisafundamentalprinciple in the preparation of nancialstatements.Under the goingconcernassumption,anentityisordinarilyviewedascontinuing in businessfor the foreseeablefuturewithneither the intentionnor the necessity of liquidation,ceasingtradingorseekingprotectionfromcreditorspursuanttolawsorregulations.Accordingly,unless the goingconcernassumptionisinappropriate in the circumstances of the entity,assetsandliabilitiesarerecorded on the basisthat the entitywillbeabletorealizeitsassets,dischargeitsliabilities,andobtainrenancing(ifnecessary) in the normalcourse of business. The assessment of anentity’sabilitytocontinueasagoingconcernis the responsibility of the entity’smanagement;and the appropriateness of management’suse of the goingconcernassumptionisamatterfor the auditortoconsider on everyauditengagement.Somenancialreportingframeworkscontainanexplicitrequirementformanagementtomakeaspecicassessment of the entity’sabilitytocontinueasagoingconcern,andstandardsregardingmatterstobeconsideredanddisclosurestobemade in connectionwithgoingconcern.Forexample,withinInternationalFinancialReportingStandards(IFRS),InternationalAccountingStandard(IAS)1,“Presentation of FinancialStatements,”requiresmanagementtomakeanassessment of anentity’sabilitytocontinueasagoingconcern:“Whenpreparingnancialstatements,managementshallmakeanassessment of anentity’sabilitytocontinueasagoingconcern.Financialstatementsshallbeprepared on agoingconcernbasisunlessmanagementeitherintendstoliquidate the entityortoceasetrading,orhasnorealisticalternativebuttodoso.Whenmanagementisaware, in makingitsassessment, of materialuncertaintiesrelatedtoeventsorconditionsthatmaycastsignicantdoubtupon the entity’sabilitytocontinueasagoingconcern,thoseuncertaintiesshallbedisclosed.Whennancialstatementsarenotprepared on agoingconcernbasis,thatfactshallbedisclosed,togetherwith the basis on which the nancialstatementsarepreparedand the reasonswhy the entityisnotregardedasagoingconcern. In assessingwhether the goingconcernassumptionisappropriate,managementtakesintoaccountallavailableinformationabout the future,whichisatleast,butisnotlimitedto,twelvemonthsfrom the balancesheetdate. The degree of considerationdepends on the facts in eachcase.Whenanentityhasahistory of protableoperationsandreadyaccesstonancialresources,aconclusionthat the goingconcernbasis of accountingisappropriatemaybereachedwithoutdetailedanalysis. In othercases,managementmayneedtoconsiderawiderange of factorsrelatingtocurrentandexpectedprotability,debtrepaymentschedulesandpotentialsources of replacementnancingbeforeitcansatisfyitselfthat the goingconcernbasisisappropriate.”2 The detailedrequirementsregardingmanagement’sresponsibilitytoassess the entity’sabilitytocontinueasagoingconcernandrelatednancialstatementdisclosuresmayalsobesetout in laworregulation.Otherstandardsandguidancemayalsoberelevant,suchasthoserelatingtodisclosures of risksanduncertaintiesortosupplementarystatementssuchasmanagementdiscussionandanalysisorsimilar.Relevant ... The auditorisunabletoobtainsufcientap-propriateauditevidenceaboutwhether the goingconcernassumptionisappropriate;• The auditordisagreeswith the informationincluded in the nancialstatements in relationtogoingconcern,becauseitisinsufcientorincorrect;and•...