Going concern is the assumption that the company will be around for the foreseeable future. If an auditor has a going concern issue, he/she may fear that the company will go bankrupt, etc.

A going concern is a business that operates without the threat of liquidation. The advantages of going concern are that the business declares the intention of running for at least 12 months.

what exmples best describe the going concern concept

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In accounting, "going concern" refers to a company's ability to continue functioning as a business entity. It is the responsibility of the directors to assess whether the going concern assumption is appropriate when preparing the financial statements. Financial statements are prepared on the assumption that the entity is a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the normal course of operations.