Educational material on going concern requirements and disclosures
22 July 2025
On 13 May 2025, the IFRS Foundation published an updated version of its educational material “Going concern – A focus on disclosure”, which was originally published in January 2021.
The Foundation’s aims in publishing this update were as follows:
- to include updated references to the going concern requirements in IFRS Accounting Standards. When the IASB published IFRS 18 – Presentation and Disclosure in Financial Statements, the requirements relating to an entity’s assessment of its ability to continue operating as a going concern were transferred unchanged from IAS 1 – Presentation of Financial Statements to IAS 8, which was retitled Basis of Preparation of Financial Statements;
- to remove outdated references to the International Auditing and Assurance Standards Board (IAASB) and its going concern project, and to replace them with references to ISA 570 (Revised 2024) – Going Concern;
- to remove references to the Covid-19 pandemic and the difficult economic environment associated with it.
The updated version of the educational material on going concern requirements is available here.
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