January 14, 2016
Audit Analytics Releases Annual Going Concerns Report
We are pleased to announce the annual Going Concerns Report covering fiscal years 2001-2014 is now available. This year the initial results appear positive because they show a drop in both the number and percentage of going concerns. However, most of the decrease is due to company attrition from the prior year's going concern population. Additional highlights from the report include:
- It is estimated that 15.8% of auditor opinions filed for fiscal year end 2014 will contain a qualification regarding the company's ability to continue as a going concern.
- For fiscal year 2014, the number of new going concerns (going concerns filed for a particular fiscal year, but not the year prior) is estimated to be 530, which is the 4th year in a row with an amount under 600.
- 48% of the new going concerns as of July 14th were disclosed in S-1s or F-1s and thus linked to recent IPOs, not established companies.
- Fiscal year 2014 saw the third (tied) lowest number of companies that improved well enough to shed its going concern status.
Audit Analytics subscribers can login and download the report:
2014 Going Concerns, A Fifteen Year Review
Data from this report was recently highlighted in the Accounting Today article:
Going Concern Opinions Trending Down, for a Reason
For more information on Going Concerns, please email us at firstname.lastname@example.org or call (508) 476-7007. We will be happy to give you a personalized online demonstration of the data.
The Audit Analytics Team