50 years ago or so, one of the books my parents would read to me at night was "Chicken Little." The story, as best as I remember it, involved a juvenile chicken who announced after a drop of rain fell on his head that the sky was falling--and convinced many of his young friends to join in the panic. Periodically, one sees similar behavior in the business world; one present example being the widespread belief that a going concern explanatory paragraph inherently will lead to a (most likely Chapter 11) bankruptcy filing. Peter Bible of EisnerAmper CPA firm points out that bankruptcy is NOT inevitable from a going concern expression and that converting financials to a liquidation basis is not necessary needed or even appropriate.
I have to acknowledge that Mr. Bible's advice is probably the reason that going concern opinions are uncommon, particularly among publicly-traded businesses. In theory, it seems that going concern issues should be a significant red flag and I have even considered calling for a qualified opinion in the case of significant going concern anxieties. Maybe I have done a small-scale Chicken Little here--guess there is a reason that I am in academia and not in practice.