Statement:
Draft of the amended ISA 570 (Revised) Going Concern

<p>In a letter dated April&nbsp;4, 2023, the WPK submitted comments to the International Auditing and Assurance Standards Board (IAASB) on its draft of the amended ISA&nbsp;570 (Revised) Going Concern.</p>
<p>The WPK informed about the most important changes compared to the existing ISA 570 under <a href="https://www.wpk.de/eng/news/all/2023/sv/iaasb-draft-of-the-amended-isa-570-on-going-concern/" target="_top">"New on WPK.de" dated June&nbsp;7, 2023</a>.</p>

In principle, the WPK welcomes the proposed changes in its statement, but suggests further considerations regarding the following issues:

  • Postponement of the beginning of the period for the going concern assessment;
  • Explicit statement by the auditor in the auditor's report on the absence of material uncertainties;
  • Inadmissibility of including information not otherwise disclosed in the auditor's report;
  • Restriction of the description of the manner in which the auditor made the assessment of the going concern opinion to the audit of listed companies.
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