"With the economic crisis deepening, auditors and their clients get testy with each other about companies’ ability to survive.
In the midst of an increase in the number of going-concern qualms stamped on company financials, standard-setters are working on changing how managers and auditors determine whether a business will stay viable in the foreseeable future.
It’s the one area of financial reporting where auditors are required to play forecaster. Here, they must go beyond their more comfortable role of reviewer and retrospectively of past financial performance..."
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