Number of New Going Concerns is the Lowest in 12 Years
Audit Analytics' annual Going Concern report is now available. This research analyzes the trends in Going Concerns disclosed for fiscal years 2000 through 2011. Findings from the report include:
- The number of new Going Concerns in fiscal year 2011 is the lowest in 12 years, down to 545.
- 198 companies shed their Going Concern Status between fiscal year 2010 and 2011 - the lowest number in the years under review.
- It is estimated that 17.7% of auditor opinions filed for fiscal year 2011 will contain a qualification regarding the company's ability to continue as a Going Concern.
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