This research considers information related to the study of the assessment of the going concern opinion in deferent countries in theoretical and practical aspects. However, these researches were conducted mainly on the example of big enterprises. In this article the authors determine the existence of four popular accounting-based measures, Altman’s (1968) Z-score, Hopwood (1994), Taffler's Z-score model (1984) and Zmijevski’s (1984) model, which enable to efficiently determine the probability of insolvency/bankruptcy. By employing manually collected data for the selection of small and medium sized enterprises we consider the empirical link between Altman Z- score and auditors̉’ reporting decision in Latvia. We hypothesize, that it is possible to apply risk classes of the assessment of the going concern by Antony Young un Yi Wang for the audited enterprises of Latvia. Our empirical results are consistent with this expectation.