Going Concern Help

摘要

The Financial Reporting Council has published an update for directors of smaller companies to help them determine whether their accounts should be prepared on a going concern basis and whether they need to make additional disclosures in their annual accounts. This update is specifically aimed at companies that adopt the Financial Reporting Standard for Smaller Entities. The FRC does not anticipate any significant increase in smaller companies preparing accounts other than on a going concern basis. Smaller companies may elect to not have an audit or file abbreviated accounts with Companies House. But they are required to produce annual accounts that give a true and fair view and these may be needed to be given to customers, banks and others to enable business to continue.