San Diego State University Going Concern Assessment

Question Description

I’m working on a accounting writing question and need an explanation to help me study.

Going Concern Assessment

(a.) Read the Journal of Accountancy article (Link Below) regarding going concern assessments duringeconomic turmoil. Summarize the auditors general objectives when performing a going concernassessment and the special factors that should be considered during this period of uncertainty.

https://www.journalofaccountancy.com/news/2020/apr…

(b.) For your company (Clorox Company), discuss factors the auditors may need to consider for an upcominggoing concern assessment. What is a potential reason for and a potential reason against issuing a goingconcern opinion in the coming year (based on their most recently issued financial statements and the waythey may continue to be affected by the COVID-19 pandemic)?

Requirements:

Times New Roman, Size 12 font, Single spaced, Standard margins.

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