What is a going concern qualification? Definition & examples
Published by
The Street
The Street
By Dominic Diongson What is a going concern qualification? A going concern qualification refers to an opinion of substantial doubt as to a company’s ability to continue operations in the foreseeable future, and it is typically issued by an auditor overseeing the review of a company’s financial statements. The root of the phrase “going concern” is an accounting term that refers to an entity having the financial resources to continue operating. It’s presumed a company will continue to operate as a going concern as the basis for financial reporting unless liquidation is imminent. Under the genera…