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What is “going concern” concept and how it relates to Kingfisher Airlines nowadays?

A “going concern” refers to a company’s ability to continue functioning as a business entity in the near future. It is extremely rare that auditors make such mention in the passing.

However, Kingfisher Airline auditors asked if Kingfisher Airlines could be even described as a ‘going concern’. Means auditors were suspicious about that company would able be survive in near future, that’s why it was possible that KFA could even be described as ‘going concern’

 

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