02 February 2021
BDO has released IFR Bulletin 2021/03 summarising the educational material issued by IASB with respect to going concern assessment and related disclosures. The COVID-19 pandemic has resulted in a stressed economic environment on an #unprecedented scale in recent history. As a result, going concern assessments may require a greater degree of judgement than usual. To support consistent application of IAS 1 Presentation of Financial Statements, the IFRS Foundation has published educational material which highlights specific going concern disclosure requirements and overarching disclosure principles of IAS 1. The Bulletin summarises the issues addressed in the educational material.