Thursday, February 26, 2009

GM Expects Going Concern Opinion from Auditors

File under "Things I never imagined".
From the Financial Times:
GM future in doubt after $31bn loss

General Motors on Thursday said it expected its auditors to study whether there was “substantial doubt” it could continue as a going concern, as the US carmaker revealed a full-year net loss of $30.9bn

It said it expected the auditors to give their opinion when the GM files its annual report with the Securities and Exchange Commission next month, since the company plans to take advantage of a 15-day extension to the deadline for filing....MORE