The Legal & Accounting Blog

A blog by DTate

Dave Tate is a CPA and attorney in San Francisco. Dave is a prolific author, and has written the audit committee chapter for the California Continuing Education of the Bar publication Advising and Defending Corp. Directors and Officers.

GM says could be out of cash; raises a going concern issue?

11/08/2008 - 22:58 - 1168 reads

I noticed the following headline this week:

GM reports $2.5B 3Q loss, says running out of cash (AP)
AP - General Motors Corp. said Friday it lost $2.5 billion in the third quarter and warned that it could run out of cash in 2009 if the U.S. economic slump continues and it doesn't get government aid.

For accounting and finance professionals -- does this raise a going concern issue for GM and its auditor? And, will prospective buyers be more likely to now avoid purchasing a GM vehicle, thus further increasing going concern issues?

The Legal & Accounting Blog

GM says could be out of cash; raises a going concern issue?

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