The IFRS Foundation has today published an updated version of its educational material to support the consistent application of IFRS Accounting Standards related to going concern assessments.
Companies preparing financial statements using IFRS Accounting Standards are required to assess their ability to continue as a going concern. This educational material brings together the relevant requirements and explains how they might apply to a range of company situations. It is designed to support understanding and consistent application of the Standards but does not change or add to existing requirements.
Originally published in 2021, the educational material has been updated to reflect recent developments—most notably, the International Accounting Standard Board’s issuance of IFRS 18 Presentation and Disclosure in Financial Statements.
The updated educational material also removes outdated references to the International Auditing and Assurance Standards Board (IAASB) and its project on Going Concern. In December 2024, the IAASB approved International Standard on Auditing (ISA) 570 (Revised 2024), Going Concern, which is now referenced in the updated educational material.
Access the Going concern—A focus on disclosure educational material.
Followable tags
Applying IFRS Accounting Standards
IFRS 18 Presentation and Disclosure in Financial Statements
IAS 8 Basis of Preparation of Financial Statements
