Oireachtas Joint and Select Committees
Wednesday, 20 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Dargan Fitzgerald:
Yes, I can confirm that in each year there is a formal assessment of going concern, typically both by the directors of actually, of all entities subject to external audit and that going concern assessment is initially carried out by the directors and, in fact, it's part of the representations which auditors annually receive that the directors have satisfied themselves that the going concern basis continues to be appropriate. So, yes, to answer your question, in each year, there's a formal assessment of going concern, both by the directors and by the auditors.
No comments