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Weighing The Public Interest, Jodi L. Gissel, Don Giacomino, Michael Akers

Accounting Faculty Research and Publications

In 1981, the AICPA addressed the issue of going concern status through SAS 34, The Auditor's Considerations When a Question Arises About an Entity's Continued Existence. In 1988, the AICPA issued SAS 59, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, which remains the authoritative guidance. To determine if additional guidance on the topic of going concern is provided by accounting organizations, the authors contacted the AICPA and the state CPA societies. The authors found that none of these organizations provide additional literature or guidance in this area. Several individuals have criticized the current literature …