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© 2018

Audit Reporting for Going Concern Uncertainty

Global Trends and the Case Study of Italy

Benefits

  • Employs a narrative analytical approach to explore auditor reporting on going concern uncertainty worldwide

  • Includes an empirical study of the Italian stock market as the basis for recommendations in relation to auditing standards

  • Takes into account various perspectives, from academics, regulators, and practitioners

Book

Part of the SpringerBriefs in Accounting book series (BRIEFSACCOUNTING)

About this book

Introduction

This book employs a narrative analytical approach to explore all aspects of the debate surrounding auditor reporting on going concern uncertainty worldwide. In-depth analysis of significant academic studies and of regulatory perspectives is combined with an illuminating empirical study in the Italian context. The book opens by discussing the assessment of going concern for accounting and auditing purposes. It is examined how going concern is considered in the FASB and IASB accounting standards and how auditors in the PCAOB and IAASB environments should verify its presence in financial statements and report on it in the audit report.  Accounting and auditing in relation to going concern in other jurisdictions are also addressed. Research into the determinants, accuracy, and consequences of going concern opinions (GCO) is then thoroughly reviewed, with separate examination of studies and trends in the United States, Europe, and the rest of the world. In the third part of the book, interesting evidence from the Italian Stock Market, including investor reactions to GCOs during the period 2008–2014, is presented and evaluated. The book will be of interest to academics, regulators, and practitioners alike. 

Keywords

Going concern Audit reporting Market behavior Stock reactions Audit opinion Italian stock market Going concern opinion GCO Public company accounting oversight board PCAOB International auditing and assurance standard board IAASB Financial Accounting Standard Board FASB

Authors and affiliations

  1. 1.Department of Management and LawUniversity of Rome Tor VergataRomeItaly

About the authors

Sandro Brunelli is Assistant Professor of Accounting at University of Rome Tor Vergata, School of Economics. After gaining a PhD in Public Management and Governance, he directed his research efforts to the field of accounting, auditing, and financial accountability. He teaches financial accounting, financial analysis, and financial reporting and is Coordinator of the track in Control and Auditing within the Master of Science in Business Administration at the university. He has published a number of papers in leading academic journals. 

Bibliographic information

  • Book Title Audit Reporting for Going Concern Uncertainty
  • Book Subtitle Global Trends and the Case Study of Italy
  • Authors Sandro Brunelli
  • Series Title SpringerBriefs in Accounting
  • Series Abbreviated Title SpringerBriefs in Accounting
  • DOI https://doi.org/10.1007/978-3-319-73046-2
  • Copyright Information The Author(s), under exclusive licence to Springer International Publishing AG, part of Springer Nature 2018
  • Publisher Name Springer, Cham
  • eBook Packages Business and Management Business and Management (R0)
  • Softcover ISBN 978-3-319-73045-5
  • eBook ISBN 978-3-319-73046-2
  • Series ISSN 2196-7873
  • Series E-ISSN 2196-7881
  • Edition Number 1
  • Number of Pages XIV, 105
  • Number of Illustrations 2 b/w illustrations, 0 illustrations in colour
  • Topics Accounting/Auditing
    Financial Accounting
    Business Finance
  • Buy this book on publisher's site
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