2. Part C
Please refer to the Auditing Standard ASA 570 Going Concern, identify factors (financial and non-financial) that you would consider when assessing whether the CIO will continue its operation as a going concern.
Please note that you cannot adapt any factors that has been described in the auditor’s report. For example, the auditor has indicated that in the notes to financial statements, note 1(d) states that the Company has continuously making loss and negative cash flow, although they are able to extend their loan facility repayment until 2019. Therefore, when you are assessing whether going concern is appropriate or otherwise, you will have to think other factors than the net loss incurred, net cash outflows, as well as the loan facility of $1,500,000 with extended repayment.
here i attached documents for Audit group assignment. this is group assignment so i just have to do part C of 2nd question as i mention that part above. word limit for this part is only 350 words. AS i confirmed from tutor about this part we have to look the audit report 2018, but all factors should be different from that report its all mention in instructions.DUE date 10th may. 350 words.