CAS 570: Going Concern
Requires the auditor to obtain sufficient appropriate evidence about, and conclude on, the appropriateness of management's use of the going-concern basis of accounting and on any material uncertainty.
Why CAS 570 matters
Going-concern conclusions are existential for the issuer. The standard requires evaluation over at least 12 months from the financial-statement date.
Framework: Canadian Auditing Standards (CAS)
CAS are the auditing standards adopted by the Auditing and Assurance Standards Board (AASB) of CPA Canada. They are Canadian adoptions of the IAASB's International Standards on Auditing (ISAs) and govern every audit of financial statements performed in Canada.
Primary source: FRAS Canada
Frequently asked
What is CAS 570?
Requires the auditor to obtain sufficient appropriate evidence about, and conclude on, the appropriateness of management's use of the going-concern basis of accounting and on any material uncertainty.
Why does CAS 570 matter for an audit?
Going-concern conclusions are existential for the issuer. The standard requires evaluation over at least 12 months from the financial-statement date.
Which framework does CAS 570 belong to?
CAS 570 falls under Canadian Auditing Standards (CAS). CAS are the auditing standards adopted by the Auditing and Assurance Standards Board (AASB) of CPA Canada. They are Canadian adoptions of the IAASB's International Standards on Auditing (ISAs) and govern every audit of financial statements performed in Canada.
Related standards — Canadian Auditing Standards (CAS)
- CAS 200 — Overall Objectives of the Independent Auditor
- CAS 210 — Agreeing the Terms of Audit Engagements
- CAS 220 — Quality Management for an Audit of Financial Statements
- CAS 230 — Audit Documentation
- CAS 240 — The Auditor's Responsibilities Relating to Fraud
- CAS 250 — Consideration of Laws and Regulations
See how Auditus checks CAS 570
Auditus.ai runs PCAOB, ISA, and CAS engagements end-to-end and cites the exact standard behind every finding — including CAS 570.