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.
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