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Briefly explain the accounting assumption of going concern

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Reference no: EM133010620

Question -

(i) Briefly explain the accounting assumption of 'going concern'. Why is it of interest to auditors?

(ii) Briefly explain how the COVID-19 pandemic of 2020 might impact on business and, by referencing the relevant auditing standard, why would this be of interest to auditors?

Reference no: EM133010620

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