Can the questionnaire be signed electronically?

Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided intent, consent, attribution, and retention criteria are met.

Is notarization required for the questionnaire?

Generally no; notarization is uncommon for internal going-concern questionnaires. If an external party requires notarization, follow state notary and RON rules.

What if management changes answers later?

Document revisions with timestamps and signer attestations. Maintain version history and retain prior copies as audit evidence of earlier representations.

How to handle missing supporting schedules?

Annotate missing items, provide an expected delivery date, and attach interim proofs (bank confirmations, credit facility statements) to mitigate audit findings.

Who should approve the final document?

Senior finance leadership (CFO) and the preparer should sign; external auditors record the review and conclusion in their working papers.

Which retention period applies to the questionnaire?

Retain for at least 3 years per IRS minimums (IRC §6501(a)); consider 6 years for HIPAA-related contexts and longer retention per state rules.

Electronic Signature
Templates
Finance
Finance Going Concern Questionnaire

Finance Going Concern Questionnaire

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

FINANCE GOING CONCERN QUESTIONNAIRE

Entity Identification

Entity Name Entity Principal Address

Tax ID / EIN

Reporting Period End (Fiscal Year End)

Primary Contact for This Questionnaire

Contact Name Title

Phone

Email

Financial Condition and Liquidity

1. Current cash and cash equivalents at balance sheet date:

2. Total current assets: Total current liabilities:

3. Net loss (profit) for the most recent fiscal year:

Provide a concise 12-month cash flow projection, including assumptions and major cash inflows and outflows

Indicators of Going Concern Risk

For each item below, check Yes if the condition exists, and provide a description and quantification where applicable.

Sustained operating losses or cumulative deficit

Negative operating cash flows expected in the next 12 months

Actual or anticipated breach of debt covenants

Inability to obtain financing or to refinance existing obligations on acceptable terms

Significant contingent liabilities or unexpected obligations

Subsequent Events

Have there been events or transactions subsequent to the balance sheet date that materially affect liquidity or the entity's ability to continue as a going concern? Yes No

If yes, provide details (dates, amounts, counterparties, and impact on liquidity)

Management Plans and Mitigating Actions

Describe specific plans to mitigate going concern uncertainties, including expected timing, sources of funds, cost of funds, material conditions or contingencies associated with those plans, and key assumptions.

If management is seeking or has obtained third-party commitments (e.g., equity infusion, loan commitments, asset sales), provide name of party, amount, documentation status, and enforceability

Representations and Certification

The undersigned, on behalf of the entity identified above, represents that the information provided in this questionnaire is complete and accurate to the best of management's knowledge. Management understands that the entity's auditors will rely on these representations in assessing whether substantial doubt exists about the entity's ability to continue as a going concern for a period of at least 12 months from the date of the financial statements. Management further acknowledges the obligation to inform the auditors promptly of any material changes to the facts or circumstances described herein.

Certification of completeness (select one)

All material facts and forecasts required by this questionnaire have been provided
Material information is omitted; see explanation below

If omitted, provide explanation

Additional Comments and Supplemental Attachments

List any schedules, forecasts, letters of support, or other documentary evidence attached or available on request

By signing below, the signatory affirms that they are authorized to make representations on behalf of the entity and that the statements contained herein are accurate and complete. Management acknowledges that knowingly providing false information may subject the entity and responsible individuals to legal or regulatory penalties.

Printed Name:

Title:

Signature:

Date:

What the Finance Going Concern Questionnaire Is

A Finance Going Concern Questionnaire is a structured management report used by auditors, finance teams, and lenders to assess whether an entity can continue operating for the foreseeable future (typically 12 months). It collects financial forecasts, liquidity analyses, material uncertainties, and management’s mitigating plans to support audit opinions and credit decisions.

Why this Questionnaire Matters for Financial Reporting

Completing a Finance Going Concern Questionnaire documents management’s view of liquidity, forecasts, and mitigating actions; it supports auditor evaluations under generally accepted auditing standards and helps lenders and stakeholders identify material uncertainties. Electronic completion preserves timestamps and audit trails under ESIGN and UETA frameworks.

Who Typically Completes and Reviews the Questionnaire

The questionnaire is completed by management and reviewed by internal and external stakeholders to support financial statement assertions.

Management finance teams complete financial forecasts and provide narrative explanations of risks and assumptions.
External auditors use the questionnaire to corroborate evidence and form a going-concern conclusion for audit reporting.
Lenders and investors review completed questionnaires to assess covenant compliance, liquidity, and remedial plans.

Final reviewers usually include audit leads, chief financial officers, and lending officers who need documented evidence for their opinions and decisions.

Primary Signers and Reviewers

Chief Financial Officer

The CFO certifies forecasts, liquidity positions, and management plans. Their signature indicates board-level awareness and responsibility for representations in the questionnaire.

Audit Partner

The external audit partner reviews management responses and retains the questionnaire as evidence supporting the audit opinion and any disclosed material uncertainties.

Core Components of a Professional Questionnaire

A complete Finance Going Concern Questionnaire combines financial data, narrative explanations, supporting schedules, and signatory attestations designed for audit and lender review.

Financial Forecasts

Projected cash flow and income statements for at least 12 months, with clear assumptions and sensitivity scenarios to show liquidity under different outcomes.

Liquidity Analysis

Current cash, committed lines of credit, covenant status, and burn-rate calculations that quantify near-term funding needs and sources.

Material Uncertainties

Identification and explanation of events or conditions that indicate substantial doubt about continuing operations, with estimated financial impact.

Mitigating Plans

Concrete actions management will implement (cost reductions, asset sales, financing) including timing, responsible parties, and contingencies.

Supporting Schedules

Detailed working papers: aged payables/receivables, debt maturities, forecast assumptions, and third-party confirmations where applicable.

Signatures & Attestations

Authorized management signatures, dates, and an auditor review block capturing reviewer name, role, and conclusion for audit evidence.

Required Information and Fields

Entity Name: Legal entity full name

Fiscal Year End: MM/DD/YYYY format

Reporting Period: Start and end dates

Prepared By: Name and title

Material Uncertainties: Concise risk descriptions

Management Signatures: Name, title, date

Step-by-Step: Completing the Questionnaire

Follow a consistent sequence to gather reliable data and maintain an audit-ready record of management’s assessment.

01

Gather Data: Collect cash, debt schedules, forecasts, and supporting workpapers.
02

Draft Responses: Explain uncertainties, assumptions, and mitigation plans clearly.
03

Review Internally: Finance leadership reviews for consistency and accuracy.
04

Sign and Archive: Obtain signatures and store the final version with audit trail.

Where to Send or File the Completed Questionnaire

Route the finished questionnaire to the stakeholders who depend on it and retain copies for audit and regulatory needs.

Internal Audit: Primary reviewer for audit working papers.
External Auditor: Include in audit file as evidence of management assessment.
Lenders/Covenant Officers: Send to relationship managers for covenant monitoring.
Corporate Records: Store in secure records repository for retention.

How to Configure an Online Completion Workflow

Design the digital workflow to collect inputs, route reviewers, and capture an auditable record of approvals.

Field	Configuration
Signer Roles	Assign preparer, approver, and auditor roles
Authentication Level	Use email link or SMS code as needed
Conditional Fields	Show sections based on prior answers
Retention Policy	Set automatic archiving and access controls

Digital Signing and Technical Requirements

Choose a platform that supports common file formats, audit trails, and appropriate signer authentication for financial attestations.

Integrations: Salesforce, NetSuite, Microsoft 365
File Formats: PDF, DOCX, XLSX
Authentication: Email, SMS code, KBA

Common Mistakes to Avoid

Providing unsupported forecasts without working papers, which undermines auditability and raises questions about management assumptions.
Failing to document committed financing or covenant waivers, leaving gaps in liquidity analysis and possible misstatement risks.
Using ambiguous language for mitigation plans such as 'attempt to secure financing' without timelines or responsible parties.
Submitting unsigned or partially signed questionnaires, which invalidates attestations and delays audit conclusions.

Risks and Consequences of Incomplete or Incorrect Answers

Audit Qualification: Auditor may include a going-concern disclosure

Regulatory Scrutiny: Increased review by regulators or lenders

Covenant Default: Undisclosed liquidity issues can trigger breaches

Reputational Harm: Stakeholder confidence reduction

Restatements: Incorrect facts may require financial restatement

Legal Exposure: Potential claims from creditors or shareholders

eSignature Vendor Comparison for Questionnaire Workflows

Comparing common vendor features and starting prices helps select a platform that meets audit, HIPAA, and volume needs without inflating costs.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day trial	Varies	Varies	Varies	Varies
Bulk Send	Yes	Varies	Varies	Varies	Varies
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Real-World Examples of Use

Sample use cases show how organizations document going-concern assessments and integrate them into audit workflows.

Optica Ventures LLC

Management used a structured questionnaire to centralize forecasts and mitigation plans for auditors.

The process aligned management and the audit team quickly.
The standardized answers reduced follow-up requests and created a single source of truth for the audit file, improving responsiveness during fieldwork.

Xerox (NetSuite ops)

The finance team embedded schedules and signer roles into a digital questionnaire.

Conditional fields captured scenario-specific details.
This approach ensured consistent information across units and produced audit-ready exports that simplified external review and control testing.

FAQs and Troubleshooting for Completing the Questionnaire

Answers to common questions help avoid submission errors, audit queries, and eSignature pitfalls when preparing the Finance Going Concern Questionnaire.

Need help? Contact support

Can the questionnaire be signed electronically?
Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided intent, consent, attribution, and retention criteria are met.
Is notarization required for the questionnaire?
Generally no; notarization is uncommon for internal going-concern questionnaires. If an external party requires notarization, follow state notary and RON rules.
What if management changes answers later?
Document revisions with timestamps and signer attestations. Maintain version history and retain prior copies as audit evidence of earlier representations.
How to handle missing supporting schedules?
Annotate missing items, provide an expected delivery date, and attach interim proofs (bank confirmations, credit facility statements) to mitigate audit findings.
Who should approve the final document?
Senior finance leadership (CFO) and the preparer should sign; external auditors record the review and conclusion in their working papers.
Which retention period applies to the questionnaire?
Retain for at least 3 years per IRS minimums (IRC §6501(a)); consider 6 years for HIPAA-related contexts and longer retention per state rules.

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