Tougher 'going concern' scrutiny required of British auditors

Accountants will be required to make deeper checks into whether a company is able stay in business under a proposal by Britain’s audit watchdog following the collapses of Carillion and BHS.

The Financial Reporting Council (FRC) proposed revising its current rules on Monday so that auditors more robustly challenge a company’s own assessment of being a “going concern”.

Read more at Reuters.