Auditing and Assurance Standards and Guidance

Auditing Standards (Ireland)

FRC ISAs (UK and Ireland) applicable for periods beginning on or after 15 December 2010 but before 17 June 2016

ISA (UK and Ireland) 570 Going Concern

ISA (UK and Ireland) 570 applicable for periods ending on or after 15 December 2010

Application and Other Explanatory Material

Additional Audit Procedures When Events or Conditions Are Identified (Ref: Para. 16 )

The Period of Management's Assessment (Ref: Para. 16(c) )

A17.	In addition to the procedures required in paragraph 16(c), the auditor may compare:

The prospective financial information for recent prior periods with historical results; and

The prospective financial information for the current period with results achieved to date.

A18.

Where management's^1a assumptions include continued support by third parties, whether through the subordination of loans, commitments to maintain or provide additional funding, or guarantees, and such support is important to an entity's ability to continue as a going concern, the auditor may need to consider requesting written confirmation (including of terms and conditions) from those third parties and to obtain evidence of their ability to provide such support.