What is as 2415?

1 AS 2415 addresses the auditor’s responsibilities to evaluate a company’s ability to continue as a going concern. This document was developed by the staff of the Office of the Chief Auditor to foster discussion among the members of the Standards and Emerging Issues Advisory Group at the March 30, 2023 meeting.

Does as 2415 require auditors to design audit procedures?

AS 2415 does not require auditors to design audit procedures solely to identify conditions and events that, when considered in the aggregate, indicate there could be substantial doubt about the entity’s ability to continue as a going concern.

Does as 2415 require a going concern explanatory paragraph?

Another consideration is that while AS 2415 requires that the auditor include a going concern explanatory paragraph when substantial doubt is raised and not alleviated by the company’s plans, it does not require disclosure of information related to the auditor’s going concern evaluation in other circumstances.