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Reporting on going concern

Statutory Audit 759 views 3 replies

Can anybody please help me regarding reporting on going concern in event of death of proprietor. Legal heirs are not continuing business.

 

Thanks & Regards

Replies (3)

Do you want to know how to start the business of the deceased proprietor or if you want to know how to stop/settle down the business as legal heirs are not continuing business.

I want to know the reporting to be done in Tax Audit Report for going concern and not the process to start or stop the business

Originally posted by : Taufik

Can anybody please help me regarding reporting on going concern in event of death of proprietor. Legal heirs are not continuing business.

 

Thanks & Regards

If any one else is willing to take and continue the business then it is going concern hence no need to comment but if it is dissolved then you have report that the business is going to dissolve due to sudden death of propertor and hence does not satisfy the going concern concept


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