Auditee- Loss making PSU serving general public, with negative net worth, operating losses, cash loss, overdues on all statutory dues for more than 20 months, overdue instalments on loans. All ratios obivously on the negative. Well, these are the only downsides.
Can one question Going Concern Assumption of this PSU ?Auditee syas it is serving public and owned by Governement, so one cannot question the going concern concpet..
CAclubindia
