IASB Issues Updated Going Concern Educational Material
AASB 101 Presentation of Financial Statements requires preparers to assess whether the going concern basis of accounting is appropriate for the financial statements and disclose any material uncertainties.
The International Accounting Standards Board (IASB) republished their educational material on going concern in May 2025. This is a useful resource when preparing your financial statements.
The document includes guidance on assessing whether the going concern basis should be used by an entity and information about the level of disclosures needed.
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Disclaimer: This information is general in nature and should not be relied on as advice. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs and seek professional advice before making any decisions based on this information.
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