Upon completion of this course, you should be able to: Identify updates on ASB's No.132; Identify the standard and how the application will impact practically every professional accountant who deals with going concern issues; Differentiate effective dates; Identify reporting requirements, form, and content of financial statements; Recognize disclosure requirements for going concern entities and other related matters; Differentiate SASs superseded by the new standards; Recognize valid statements with respects to SAS No 132; Describe accounting standard updates which address management responsibilities with respect to Going Concern; Recognize the number one audit deficiency included within the Top 10 list based on the article from the Journal of Accountancy; Identify the steps an auditor should take in order to increase the likelihood of detecting related-party transactions; Recognize the selected AICPA Auditing & FASB Standards; Recognize the selected AICPA Auditing & FASB Standards; Differentiate Going Concern audit deficiencies.