Tag Archives: Going Concern

Covid 19 disclosures infographic

More Coronavirus (COVID-19) disclosures in published financial statements

Last week we highlighted in our published survey of 22 public company financial statements an example of an Emphasis of Matter audit report. This week, our blog focuses on an extract from the Irish company Grafton plc (in its 31 December 2019 financial statements) which describes the risk: ‘The Group is exposed to the impact… Read More


Covid 19 disclosures virus microscope image

Coronavirus (COVID-19) disclosures in published financial statements May 2020

Coronavirus (COVID-19) disclosures in published financial statements In our published survey of 22 public company financial statements we highlight several useful examples of disclosure that company directors, auditors, accountants and financial controllers will find of relevance, in the midst of the Coronavirus (COVID-19) pandemic. This thirty-page report, just published on our website, is available to… Read More


The future of audit

In a rare speech, Sir Donald Brydon, chair of the Future of Audit in the UK, told a packed conference room that he is a little troubled at the current mood that ‘reaches for a shotgun aimed at auditors every time there is a corporate problem’.  Speaking at the first ICAEW Audit & Assurance Faculty… Read More


Common Errors in FRS 102 Accounting

Revaluation gains on tangible fixed assets go through the Profit & Loss Account. True or False? The answer is ‘False’. To find out where revaluation gains on tangible fixed assets are presented, see our webinar called ‘Common Errors in FRS 102 Accounting’ where you may download the slides and support materials, all for just €45.… Read More


Audit Update

Tax advocacy is now banned for all audit clients. True or False?  The answer is ‘False’. To hear why this is false and find out what exactly are the rules surrounding an auditor helping an audit client argue a case with the Revenue Commissioners, go see our online webinar entitled Audit Update where you may… Read More


Image for Audit blog.jpg

Negative Audit Opinion Wording – Potential for Confusion

Readers may have heard by now that there is a new audit reporting requirement about going concern contained in a new style of audit opinion.  For companies and credit unions with a reporting period commencing on or after 17 June 2016 (in effect 30 June 2017 year-ends onwards), auditors must now include a specific conclusion… Read More