Abhishek PanegalAbhishek Panegal asked 1 month ago

Dear Sir,
In this question why after mentioning of “closure of main manufacturing unit” and “sale of all fixed assets” why has it still not been included as a matter affecting going concern assumption in EMP ? It should be irrelevant as to whether Management wants to continue in long run. I feel it should be included as it is of significance. Kindly resolve at earliest
Thank you.

1 Answers
RaviRavi Staff answered 1 month ago

first of all this question is of N15 RTP that time old SA 570 and old SA 706 were applicable, during that time material uncertainty was highlighted using EMP and now as per revised SA 570 and revised SA 706 for material uncertainty over going concern we put “matters affecting going concern” so yes everything else remaining same  we can put this new section instead of EMP

Abhishek PanegalAbhishek Panegal replied 1 month ago

Exactly not clear sir. Was my assumption wrong ?

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