ASA 570 requires the auditor to evaluate whether there is a substantial doubt about a client's ability to continue as a going concern for at LEAST:
A) one year beyond the date of the auditor's report.
B) one year beyond the reporting date.
C) one quarter beyond the date of the auditor's report.
D) one quarter beyond the balance sheet date.

Question

Quizplus · Accepted Answer

ASA 570 requires the auditor to evaluate whether there is a substantial doubt about a client's ability to continue as a going concern for at least one year beyond the reporting date, which is the date of the auditor's report. Therefore, option B is the correct answer.

ASA 570 Requires the Auditor to Evaluate Whether There Is