SME going concern guidance assumption

Often it is more-or-less taken as read that a business will be a going concern and statutory accounts are prepared on that basis. Due to Covid-19 though more work may be required to justify that. If directors can’t justify the going concern basis that’s going to have a significant impact on the way a company’s accounts look.

The ICAEW have prepared a short, accessible and practical guide (4 mins) aimed at SME owner/directors to explain the implications.

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