FASB makes decision on “going concern” requirement
The Financial Accounting Standards Board has voted to require that management assess whether a public company is able to remain in business as a going concern. The auditor still plays a role in this process, deciding whether management’s call was appropriate. This assessment would be made every reporting period. A revised exposure draft on going concern is expected in mid-2013. FASB makes decision on “going concern” requirement CFO.com
