COVID 19 IMPACT ON GOING CONCERN

Mainly related issues would be 

obsolete inventory- check disclosure 

PPE impairments- check disclosure requirements 

Financial instruments trading losses- check disclosure requirements

impairment of receivables- check disclosures

all the disclosures are available online or icia website.

 

Auditor should hold discussion with top level management and should evaluate all the financial statements of previous years to check whether all the operations of the management are going or not whether it casts any significant doubt on the going concern concept of the company as per SA 570. Auditor should evaluate the debtors and creditors statements including stock receiving and issuing register also if manufacturing areas are properly operating or not

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