<![CDATA[This study aims to examine the determinants of going concern opinion by analyzing the effects of operating cash flow, financial distress, and sustainability report disclosure, while investigating the moderating role of managerial ownership. This research employs a quantitative approach using logistic regression and moderated regression analysis, with data processing conducted through STATA 15. The sample consists of 74 basic materials sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period, resulting in 370 firm-year observations. The findings indicate that operating cash flow and financial distress have significant negative effects on going concern opinion, while sustainability report disclosure has a negative but insignificant effect. Managerial ownership does not moderate the relationship between operating cash flow or financial distress and going concern opinion, but significantly moderates the relationship between sustainability report disclosure and going concern opinion. These findings highlight that auditors continue to emphasize financial indicators in evaluating business continuity, while ownership structure influences the credibility of sustainability-related information. The study provides practical implications for corporate managers in improving financial resilience and strengthening disclosure quality to support stakeholder confidence. This study contributes to agency theory and signaling theory by providing empirical evidence on how financial conditions and governance mechanisms shape going concern assessments in emerging markets.]]>
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