Going concern - assessment and reporting requirements in difficult times
21 April 2021
The guidance on going concern assessments and disclosures in the GAM and FT ARM has been revised for 2020/21. At the same time, guidance to auditors has also been amended. This briefing sets out the impact of those changes on the roles and responsibilities of both management and auditors.
Going concern assessments and disclosures have been linked to the financial sustainability of NHS bodies. However, amendments to the financial reporting guidance for NHS bodies has broken that link. This briefing highlights recent changes to reporting guidance as well as audit requirements.
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