In 2023 the ISA 570 Going Concern standard was proposed to be revised, and the finalised version was published in April 2025. This revised standard becomes effective for financial years that start on or after 15 December 2026. Early adoption is permitted.
Going concern is a subject matter that will be relevant to every single audit engagement, and these amendments will impact all auditors of financial statements.
• Introduce delegates to the new standard and simplify the requirements, so that you can seriously consider early adoption.
• Help you draw parallels and understand differences when compared to the previous version of the standard, in order to know how you are to act differently in your capacity as an auditor
• Make the requirements as practical as possible by helping you visualise what needs to be done with real-world examples where possible.
The following aspects of the ISA 570 Going Concern (Revised 2025) will be identified, simplified and discussed:
• Introduction and scoping, as well as definitions
• Requirements
• Some application material (as may be relevant to practically visualise the requirements)
• Effective date
• Differences from the previous version of the standard to this version.
• Audit managers and partners
• Auditors
• Engagement quality control reviewers.
