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The auditor of Overtrade Co signed his audit report in respect of the financial statements for the year ended 31 December 20X0 on 1 June 20X1; the directors approved the financial statements on 1 May 20X1. In evaluating whether the company is a going concern, the auditor needs to form an opinion as to whether the company will continue to operate in the 'foreseeable future'. What is the period that the auditor of Overtrade Co should normally consider to represent the foreseeable future? A. 12 months from 31 December 20X0. B. 12 months from 30 June 20X0. C. 6 months from 1 June 20X1. D. 6 months from 1 May 20X1. |