ongoing-concern-the-asian-cfos-debt-hangover

Ongoing concern: The Asian CFOÆs debt hangover

Asia may be facing an oncoming corporate debt maturity crisis. Will CFOs be held responsible?

Material adverse changes, which raise substantial doubt about its ability to continue as a going concern is one example of a fairly innocuous phrase which can have profound implications for a corporation’s survival. It is an auditor’s going concern qualification something chief financial officers are becoming increasingly familiar with as the recession tightens its Darwinian grip on debt-laden corporations.

According to research firm Audit Analytics, more than 23% of public company filings made in the US for fiscal years ending between June 30 and December 31, 2008, included a going-concern qualification. But just how often is an auditor’s going concern qualification likely to appear in Asia

A recent paper from the World...

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