Topics covered include: Current FASB pronouncements on going concern issues and the liquidation basis of accounting; Current AICPA SAS on 'going concerns'; FASB and AICPA ASB issues with newly released and to be issued pronouncements; International standards; Their impact and status; Other recent and new topics as deemed timely and necessary. Upon completing this course, you should be able to: Recognize the major problems and complexities of the issues of going concern and its impact on reporting and disclosure; Recognize the major problems and complexities of the issues of going concern and its impact on reporting and disclosure Differentiate between the GAAP and GAAS issues of going concerns; Differentiate between the GAAP and GAAS issues of going concerns; Identify how to properly record, report, and disclose the various issues in the going concern area; Differentiate issues addressed by SAS No. 132; Recognize which issues an auditor may or may not have to comply with under SAS No. 132; Recognize which issues an auditor may or may not have to comply with under SAS No. 132; Identify what ASU No. 2014-15 were issued to address; Recognize how to obtain reasonable assurance that audit risk is at an acceptably low level; Differentiate engagement management activities that adversely affect the quality of an audit; Differentiate engagement management activities that adversely affect the quality of an audit; Recognize the revisions the AICPA included in the code of professional conduct; Differentiate engagement management activities that adversely affect the quality of an audit; Recognize the revisions the AICPA included in the code of professional conduct; Identify the greatest cause of audit deficiencies; Describe how an auditor should handle information that is prepared by a management specialist; Describe how an auditor should handle information that is prepared by a management specialist; Recognize when the reliability of audit evidence is generally increased; Describe how an auditor should handle information that is prepared by a management specialist; Recognize when the reliability of audit evidence is generally increased; Identify when liquidation is considered to be imminent; Describe what management is responsible for under ASU NO. 2014-15; Describe what management is responsible for under ASU NO. 2014-15; Recognize the auditors responsibilities in various scenarios.