The Going Concern Assumption: Can Your Canadian Business Survive Insolvency? The Going Concern Assumption: Can Your Canadian Business Survive Insolvency? Are you worried your business is no longer a "going concern"? In the Canadian insolvency landscape, this accounting assumption is the difference between restructuring your debt and facing a forced liquidation. In this video, Ira Smith, a Licensed Insolvency Trustee, breaks down what the going concern assumption actually means for Canadian business owners, the risks of ignoring insolvency, and how the Bankruptcy and Insolvency Act (BIA) can be used to protect your business. If you are struggling with CRA tax debt, high interest rates, or cash flow pressure, understanding your status as a going concern is the first step toward recovery. In this video, we cover: 00:00 Introduction: The Going Concern Warning 00:56 The Going Concern Warning: Panic or Plan? 02:40 The 30-Day Survival Plan: The Ticking Clock 03:19 Choosing You...