The auditor should do to Communicate the matter to those charged with governance.
What is financial statements?
- The financial actions and position of a company, individual, or other entity are formally recorded in financial statements.
- A systematic and understandable format is used to show pertinent financial data.
- The business operations and financial performance of an organization are described in financial statements, which are written records.
- Financial statements are regularly audited by governmental entities, accountants, firms, etc. to guarantee correctness and for tax, financing, or investing purposes.
- For the vast majority of users, the income statement—which shows a company's capacity for making a profit—is the most crucial financial statement. A decent level of accuracy is also shown by the fact that the majority of the data on the income statement is presented in relatively current dollars.
- The financial condition and actions of a corporation are documented in its financial statements throughout a given time period. A company's financial health and success are shown via its financial statements.
- The income statement, balance sheet, and cash flow statement are considered to be the three fundamental financial statements.
To learn more about financial statements refer to:
https://brainly.com/question/29728490
#SPJ4
