The present work deals with the impact of a negative evaluation of the going concern assumption in the annual audit. Specifically, the research questions are: What are the effects and consequences of a restriction or refusal of an audit report due to a going concern subject for an audited entity, whether such a restriction or refusal can be seen as a self-fulfilling prophecy and what factors or circumstances affect the auditors decision of the going concern premise. To answer the first question possible reasons, which lead to a market reaction to a GCO are first discussed. After that, three relevant papers, which deal with short term a medium term market reaction to a GCO were analyzed. These papers specifically deal with the changes of the return because of a GCO. In order to accommodate the second question, first the self-fulfilling prophecy itself and how it comes to pass, is explained. This was followed by a detailed analysis of the most important papers in this area. The results of this section are inconclusive. The results are all quiet different, so you cannot make a clear statement about the self-fulfilling prophecy. To answer the third research question, a distinction in business-related, which mainly concern financial sizes of the company, auditors-related and other factors is made. The results of this section show, that business-related factors are very important for the going-concern decision of the auditor.