Some Auditors May Be Reluctant to Issue a Going-Concern Audit

question 102

True/False

Some auditors may be reluctant to issue a going-concern audit opinion because it may hasten the failure of the client company.

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Definitions:

Outlook on Life

An individual's general attitude or viewpoint towards life and the future.

Depressed Individuals

People who are experiencing depression, characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Reasonable Certainty

A standard requiring sufficient specificity in the details of an agreement or fact to enable enforcement or determination by a court.

Breach of Contract

The inability to fulfill any condition of an agreement, whether documented or verbal, without a valid legal reason.