ASA 570 requires the auditor to evaluate whether there is a substantial doubt about a client's ability to continue as a going concern.One of the most important types of evidence to assess the going concern question is:
A) analytical procedures.
B) inquiries of the client and its legal counsel.
C) confirmations of creditors.
D) statistical sampling procedures.

Question

Quizplus · Accepted Answer

Analytical procedures help auditors identify trends and patterns in financial data that may indicate financial distress, making them crucial for assessing going concern.

ASA 570 Requires the Auditor to Evaluate Whether There Is