What responsibility does the auditor have to evaluate whether management’s plans will be effective?

Callie Peters is completing the audit of Making New Friends.com for the year ended December 31, 2019. Callie has been the audit manager on this engagement for the past three years. Making New Friends.com issued stock two years ago but has had difficulty establishing a loyal client base and generating advertising revenues. In reviewing results […]

What factors discussed above are relevant for a going-concern assessment for MakingNewFriends.com? What additional information might the auditor consider in the going-concern assessment?

Callie Peters is completing the audit of MakingNewFriends.com for the year ended December 31, 2019. Callie has been the audit manager on this engagement for the past three years. MakingNewFriends.com issued stock two years ago but has had difficulty establishing a loyal client base and generating advertising revenues. In reviewing results for the current year, […]

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