Overview
What this challenge is about.
Evaluate a UK retailer’s going concern, test three cash flow assumptions, and draft the audit conclusion. You get a verifiable certificate.
The scenario
Cotswold Home Ltd. is a private-equity-backed UK home furnishings chain hit by post-pandemic consumer spending shifts, energy cost inflation, and a leveraged balance sheet with a GBP 35M revolving credit facility maturing in 14 months.
The Brief
What you'll do, and what you'll demonstrate.
Is Cotswold Home Ltd.'s use of the going concern basis appropriate, and what evidence and reporting outcome should the auditor pursue?
Earning criteria — what you'll demonstrate
- Evaluate the sufficiency and appropriateness of audit evidence for complex estimates
- Apply ISA 570 (Revised) to going concern assessments and reporting outcomes
- Integrate the audit risk model with evidence-gathering decisions for high-risk areas
- Apply professional skepticism and the IESBA ethics framework when challenged by management
- Draft technically accurate auditor's report sections including KAMs and material uncertainty paragraphs
Program Fit
Where this fits in your program.
Sharpens the same skills your degree expects you to demonstrate.
Aligned coursework coming soon.
Skills
Skills you'll demonstrate.
Each one shows up on your verified credential.
- Going Concern Assessment
Apply going concern assessment to solve real industry problems and demonstrate production-level capability.
- Audit Evidence Evaluation
Apply audit evidence evaluation to solve real industry problems and demonstrate production-level capability.
- Sensitivity Analysis
Apply sensitivity analysis to solve real industry problems and demonstrate production-level capability.
- Audit Reporting
Apply audit reporting to solve real industry problems and demonstrate production-level capability.
- Professional Skepticism
Apply professional skepticism to solve real industry problems and demonstrate production-level capability.
- Ethics
Apply ethics to solve real industry problems and demonstrate production-level capability.
Careers
Career paths this challenge builds toward
Completing this challenge demonstrates skills that transfer directly to these roles: