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The IFRS Foundation has 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.
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