ISA 570 (Going Concern) — Inspection Readiness & Transition Self-Assessment

Are your going concern files ready for inspection today — and for the revised standard in December 2026? Score both in under 10 minutes.

75% of major corporate failures had no going concern warning. 38% of Tier 2/3 going concern audits require significant improvement. And ISA 570 (Revised) lands in December 2026 with 8 fundamental changes. Are you ready for both?

What's inside

3-sheet Excel workbook with dual assessment — current ISA 570 readiness (10 questions), revised standard gap analysis with auto-updating countdown to 15 December 2026, and finding details linked to named corporate failures with fines and sanctions.

1. Going concern assessment limited to 12 months from reporting date (ISA 570.13)

Regulators found auditors restricting their assessment period, missing events and conditions beyond the standard 12-month window that indicated material uncertainty.

2. Cash flow forecasts accepted without testing underlying assumptions (ISA 570.16(b))

The FRC found auditors accepting management's forecasts at face value without challenging key assumptions or performing sensitivity analysis.

3. Contradictory evidence not adequately investigated (ISA 570.16)

PCAOB found auditors failing to investigate information that contradicted the going concern assumption, including breach of debt covenants and recurring losses.

Plus 7 more findings — including 8 changes in ISA 570 (Revised) with December 2026 countdown, linked to Carillion, BHS, Thomas Cook, and Patisserie Valerie failures. All in a free Excel workbook.