Ngày tải lên :
15/03/2014, 20:20
... byincludinganappropri-
ateemphasisofmatterparagraphifthedisclosurein
thenancialstatementsisadequate.
24
Managementmayconsideritappropriatetomake
disclosuresinordertoreassureusersofthenancial
statementsabouttheentitysnancialpositionin
thelightofthegeneraluncertainty.Suchdisclosures
may,therefore,reectonlytheexistenceofgeneral,
orsystemic,risk.Suchdisclosuresmaybeconsid-
eredimportantandappropriateinthecircumstances
toensurethatthenancialpositionoftheentity
isplacedinappropriatecontextgiventhegeneral
economicconditionsandhowthoseconditionsmay
affecttheentity.However,thefactthatmanagement
hasincludedsuchdisclosuresinthenancialstate-
mentsdoesnotnecessarilymeanthatthereisamate-
rialuncertaintythatwarrantsanemphasisofmatter
paragraphinthenancialstatements.
If,ontheotherhand,theuncertaintyarisesnotonly
asaresultofthesystemicpositionbutalsobecause
ofcircumstancesspecictotheentity,itismore
likelythattheauditorwilljudgeittobematerial.
Thedecisionastowhetheradiscloseduncertaintyis
amaterialuncertaintyofthekindenvisagedbythis
requirement(andbyIAS1
25
)isadifcultone.As
indicatedabove,amaterialuncertaintyexistswhen
themagnitudeofitspotentialimpactissuchthat ,in
theauditorsjudgment,cleardisclosureofthenature
andimplicationsoftheuncertaintyisnecessaryfor
thepresentationofthenancialstatementsnottobe
misleading.
26
AspartoftheIAASBsClarityproject,ISA570was
redraftedbutnotrevised.Aspartoftheredrafting ,the
IAASBsoughttoclarifythemeaningofparagraph
31oftheextantISAthatdescribeswhenamaterial
uncertaintyexists.InISA570(Redrafted),thishas
insufcientlydrawntogethertoenabletheuserofthe
nancialstatementstoobtainanunderstandingofthe
position.
Asineveryaudit,circumstancesmayarisethat
requiretheauditortomodifytheopinioninthe
auditorsreport(i.e.,byissuingaqualied,adverse
oradisclaimerofopinion).
22
Theseare:
ã ... the ISAsthatarerelevantto the
engagement.
1
Background
The goingconcernassumptionisafundamental
principle in the preparation of nancialstatements.
Under the goingconcernassumption,anentityis
ordinarilyviewedascontinuing in businessfor
the foreseeablefuturewithneither the intention
nor the necessity of liquidation,ceasingtradingor
seekingprotectionfromcreditorspursuanttolawsor
regulations.Accordingly,unless the goingconcern
assumptionisinappropriate in the circumstances of
the entity,assetsandliabilitiesarerecordedon the
basisthat the entitywillbeabletorealizeitsassets,
dischargeitsliabilities,andobtainrenancing(if
necessary) in the normalcourse of business.
The assessment of anentity’sabilitytocontinue
asagoingconcernis the responsibility of the
entity’smanagement;and the appropriateness of
management’suse of the goingconcernassumption
isamatterfor the auditortoconsideroneveryaudit
engagement.Somenancialreportingframeworks
containanexplicitrequirementformanagementto
makeaspecicassessment of the entity’sabilityto
continueasagoingconcern,andstandardsregarding
matterstobeconsideredanddisclosurestobemade
in connectionwithgoingconcern.Forexample,
withinInternationalFinancialReportingStandards
(IFRS),InternationalAccountingStandard(IAS)
1,“Presentation of FinancialStatements,”requires
managementtomakeanassessment of anentity’s
abilitytocontinueasagoingconcern:
“Whenpreparingnancialstatements,
managementshallmakeanassessment of
anentity’sabilitytocontinueasagoing
concern.Financialstatementsshallbe
preparedonagoingconcernbasisunless
managementeitherintendstoliquidate the
entityortoceasetrading,orhasnorealistic
alternativebuttodoso.Whenmanagement
isaware, in makingitsassessment, of
materialuncertaintiesrelatedtoeventsor
conditionsthatmaycastsignicantdoubt
upon the entity’sabilitytocontinueasa
goingconcern,thoseuncertaintiesshallbe
disclosed.Whennancialstatementsare
notpreparedonagoingconcernbasis,that
factshallbedisclosed,togetherwith the
basisonwhich the nancialstatementsare
preparedand the reasonswhy the entityis
notregardedasagoingconcern.
In assessingwhether the goingconcern
assumptionisappropriate,management
takesintoaccountallavailableinformation
about the future,whichisatleast,butisnot
limitedto,twelvemonthsfrom the balance
sheetdate. The degree of consideration
dependson the facts in eachcase.When
anentityhasahistory of protable
operationsandreadyaccesstonancial
resources,aconclusionthat the going
concernbasis of accountingisappropriate
maybereachedwithoutdetailedanalysis.
In othercases,managementmayneedto
considerawiderange of factorsrelating
tocurrentandexpectedprotability,debt
repaymentschedulesandpotentialsources
of replacementnancingbeforeitcan
satisfyitselfthat the goingconcernbasisis
appropriate.”
2
The detailedrequirementsregardingmanagement’s
responsibilitytoassess the entity’sabilitytocontinue
asagoingconcernandrelatednancialstatement
disclosuresmayalsobesetout in laworregulation.
Otherstandardsandguidancemayalsobe
relevant,suchasthoserelatingtodisclosures
of risksanduncertaintiesortosupplementary
statementssuchasmanagementdiscussionand
analysisorsimilar.
Relevant ... the ISAsthatarerelevantto the
engagement.
1
Background
The goingconcernassumptionisafundamental
principle in the preparation of nancialstatements.
Under the goingconcernassumption,anentityis
ordinarilyviewedascontinuing in businessfor
the foreseeablefuturewithneither the intention
nor the necessity of liquidation,ceasingtradingor
seekingprotectionfromcreditorspursuanttolawsor
regulations.Accordingly,unless the goingconcern
assumptionisinappropriate in the circumstances of
the entity,assetsandliabilitiesarerecordedon the
basisthat the entitywillbeabletorealizeitsassets,
dischargeitsliabilities,andobtainrenancing(if
necessary) in the normalcourse of business.
The assessment of anentity’sabilitytocontinue
asagoingconcernis the responsibility of the
entity’smanagement;and the appropriateness of
management’suse of the goingconcernassumption
isamatterfor the auditortoconsideroneveryaudit
engagement.Somenancialreportingframeworks
containanexplicitrequirementformanagementto
makeaspecicassessment of the entity’sabilityto
continueasagoingconcern,andstandardsregarding
matterstobeconsideredanddisclosurestobemade
in connectionwithgoingconcern.Forexample,
withinInternationalFinancialReportingStandards
(IFRS),InternationalAccountingStandard(IAS)
1,“Presentation of FinancialStatements,”requires
managementtomakeanassessment of anentity’s
abilitytocontinueasagoingconcern:
“Whenpreparingnancialstatements,
managementshallmakeanassessment of
anentity’sabilitytocontinueasagoing
concern.Financialstatementsshallbe
preparedonagoingconcernbasisunless
managementeitherintendstoliquidate the
entityortoceasetrading,orhasnorealistic
alternativebuttodoso.Whenmanagement
isaware, in makingitsassessment, of
materialuncertaintiesrelatedtoeventsor
conditionsthatmaycastsignicantdoubt
upon the entity’sabilitytocontinueasa
goingconcern,thoseuncertaintiesshallbe
disclosed.Whennancialstatementsare
notpreparedonagoingconcernbasis,that
factshallbedisclosed,togetherwith the
basisonwhich the nancialstatementsare
preparedand the reasonswhy the entityis
notregardedasagoingconcern.
In assessingwhether the goingconcern
assumptionisappropriate,management
takesintoaccountallavailableinformation
about the future,whichisatleast,butisnot
limitedto,twelvemonthsfrom the balance
sheetdate. The degree of consideration
dependson the facts in eachcase.When
anentityhasahistory of protable
operationsandreadyaccesstonancial
resources,aconclusionthat the going
concernbasis of accountingisappropriate
maybereachedwithoutdetailedanalysis.
In othercases,managementmayneedto
considerawiderange of factorsrelating
tocurrentandexpectedprotability,debt
repaymentschedulesandpotentialsources
of replacementnancingbeforeitcan
satisfyitselfthat the goingconcernbasisis
appropriate.”
2
The detailedrequirementsregardingmanagement’s
responsibilitytoassess the entity’sabilitytocontinue
asagoingconcernandrelatednancialstatement
disclosuresmayalsobesetout in laworregulation.
Otherstandardsandguidancemayalsobe
relevant,suchasthoserelatingtodisclosures
of risksanduncertaintiesortosupplementary
statementssuchasmanagementdiscussionand
analysisorsimilar.
Relevant...