The PCAOB should expand and define the requirements for auditors regarding the going concern assumption, so that auditors can improve their performance and regain public trust. The objective of this article is to show that current requirements are insufficient to allow auditors to formulate correct assumptions. The inability to detect bankruptcies in time, lack of training to predict the future, and auditors' overconfidence prevent them from making accurate assumptions about going concern. The document provides evidence for each barrier, followed by suggestions for improvement. It concludes with an alternative approach addressing issues if management makes going concern assumptions and mentions that conditions are deteriorating due to the elimination of regulations.CURRENT AUDITOR RESPONSIBILITIESThe auditing standards explain that During an audit, auditors perform many different tests to discover inaccuracies. Auditors look for any information in the reporting process that could possibly affect the company's operations during the following year (AU 341.01). Using tests, auditors can assess whether the business will continue to operate. Auditors are not required to perform testing specifically for the purpose of finding evidence of going concern; however, they are responsible for disclosing any evidence or information they encounter during the audit. Auditors report all assessments to management and the audit committee at the conclusion of the audit. CURRENT REQUIREMENTS INSUFFICIENT Considering the auditor's responsibilities mentioned above, they seem vague. Current requirements are not enough to regain public trust. Bankruptcies prove that the auditor...... middle of paper ......rn Judgments and on the decision of audit opinion. Journal of Business and Economic Research. Vol 9, Issue 9. September 2011. Crystal, Mel. 2005. Food for thought. The CPA Journal (NYSSCPA). January 2005 online issue. Edgar Search. Filing with the SEC. Retrieved from: www.sec.gov Mayew, William J., Mani Sethuraman and Mohan Venkatachalam. 2012. Information to be provided in the management report and the company's ability to continue as a going concern. Comprehensive source database of companies. November 2012. Radin, Arther J. and Miriam E. Katowitz. 2013. Should auditors comment on going concern? The CPA magazine. October 2013 issue. Pages 6-9. Sikka, Prem. 2009. Financial crisis and auditor silence. Accounting, organization and society. Elsevier. Issue 39. Venuti, Elizabeth K. 2004. The going concern hypothesis revisited: assessing the future viability of a business. The CPA magazine. Vol 74, Issue 5. Pages 40-43. Can 2004.