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The Financial Accounting Standards Board (FASB), mindful of the large number of business failures that occurred in the wake of the financial crisis, has decided to revisit a controversial decision regarding the reporting of any “substantial doubts” about a public company’s ability to continue as a “going concern.” Traditionally, outside auditors have been responsible for sounding the alarm if there was doubt a company could continue to operate. But in 2008, FASB proposed requiring management to assess and report on that risk.

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