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Chapter 13. Where Were the Auditors? Cou... > Red Flag 2: The Auditor Questions Wh...

Red Flag 2: The Auditor Questions Whether a Company Can Survive

When an auditor believes that a company may fail within 12 months, it is required under U.S. accounting industry guidelines to issue a so-called “going concern” opinion—which means it qualifies the accounts by pointing out that the company could be heading for bankruptcy court.


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