Under U.S. GAAP, financial reporting assumes an entity will continue as a going concern unless liquidation becomes imminent. However, even if liquidation isn’t imminent, management must adhere to specific going concern disclosure requirements when there is substantial doubt about the entity’s ability to continue operating. ASC 205-40, Presentation of Financial Statements – Going Concern, defines management's responsibilities for assessing and disclosing these issues. Auditors also have critical responsibilities, with auditor requirements for going concern outlined in AS 2415 (Consideration of an Entity’s Ability to Continue as a Going Concern), AU-C Section 570 (for audits under U.S. GAAS), and ISA 570 (for audits under international standards). This going concern CPE course closes the gaps between accounting and auditing requirements. It is easy to understand, examples based, and entertaining! This going concern CPE-eligible eLearning course begins by analyzing U.S. bankruptcy cases and the timing of going concern disclosure requirements in financial statements. (Spoiler alert: management and auditors often struggle to predict the future accurately!) The course then delves into management’s going concern disclosure requirements under ASC 205-40. It concludes by examining auditor requirements for going concern under PCAOB standards, U.S. GAAS, and ISAs, while highlighting key differences between these frameworks.