2013 Fiscal Year Final Research Report
Compatibility of Going-Concern Information with the entity's ability to continue
| Project/Area Number |
23530597
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Accounting
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| Research Institution | Nihon University |
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Principal Investigator |
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| Project Period (FY) |
2011 – 2013
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| Keywords | ゴーイングコンサーン / 継続企業の前提 / 債務超過 / 支払不能 |
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| Research Abstract |
The Standard on Auditing 570"Going Concern" in Japan was released in plenty of new standards on auditing for the Clarity Project by IAASB. And that lots of new standards on auditing in Japan were revised in a short period of time.
In particular, net current liability position in conditions that may cast doubt about Going Concern Assumption has some problems in Japanese Standard on Auditing. One of the reasons is that the Insolvency Test with net current liability position in the U.S. or the U.K. is not introduced into Japanese legislative system. The other reason is that the period of management's and auditor's assessment does not accord with the definition of net current liability position, and this is different from Germany or the U.S.
Therefore some different criteria of insolvency conditions that may cast doubt about Going Concern Assumption should be set up instead of net current liability position.
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