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Explain the concept of going concern

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Reference no: EM132812914

Question -

(a) During an audit engagement, an auditor will consider whether it is appropriate to assume that their client will remain as a going concern.

Required - Explain the concept of going concern, and list four indicators that can suggest that the going concern assumption may be at risk.

(b) What is the purpose of analytical procedures?

Required - Explain the purposes of analytical procedures and identify three types of analytical procedures that could be used in the planning phase of the audit.

Reference no: EM132812914

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