Auditing Going Concern

In an era of economic volatility, rising interest rates, tighter liquidity and rapid business change, going concern has become one of the most critical and high-risk areas in auditing. Regulators are scrutinising it more closely, stakeholders expect deeper insight, and auditors face increasing pressure to detect risks earlier and challenge management more robustly.

This intensive three-hour live webinar is designed for auditors, audit committee members, finance leaders and professionals who want to move beyond theory and develop practical, real-world skills in understanding and auditing going concern.

During the session we will explore the full lifecycle of going concern assessment — from understanding early warning signals to challenging forecasts, stress-testing assumptions and strengthening audit documentation. The webinar will translate standards into practical judgement, professional scepticism and real audit techniques that can be applied immediately in practice.

Key themes include:

• The real meaning and purpose of the going concern assumption
• Why going concern failures continue to occur and what we can learn from them
• Identifying early warning signs before they become crises
• Reviewing forecasts, liquidity, funding and covenant risk effectively
• Managing the heightened audit risk and regulatory scrutiny in this area
• Practical ways to improve detection and audit quality in uncertain environments

This is an event focused on real audit challenges, real judgement calls and solution driven.

This webinar purports to provide participants with greater confidence, sharper professional scepticism and practical tools to approach going concern work with clarity, rigour and credibility.

The Speaker

Mario P Galea is a certified public accountant holding a warrant to practice both as an accountant and as an auditor. Currently practising as a business advisor providing governance oversight and advisory services to businesses and corporations. Serves as an independent non-executive director on the boards and audit committees of various listed companies in the financial and commercial sectors. Mentor and advisor to family businesses. Founder, managing partner and chairman of accountancy and audit firm EY in Malta until retirement in 2012. Specialised in auditing and assurance which he has practiced for 35 years in Malta and abroad. Lectured in auditing, assurance and professional and business ethics and led several training courses. Speaker at various business and professional conferences in Malta and abroad. Assisted businesses in several areas particularly relating to governance, accounting and systems of control. Served as President of the Malta Institute of Accountants and for many years formed part of the Accountancy Board which is the accountancy profession regulator in Malta. Served on various professional committees in Malta and abroad such as the council of the Federation des Experts Comptables (FEE) in Brussels (now Accountancy Europe). Member of the Ethics and Regulatory committees of the Malta Institute of Accountants in Malta.