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Friday, May 10, 2024 1:43:22 PM
And I will stand corrected if wrong and don't recall my accounting 100%, but to do an audit they will have to roll in all the past years businesses numbers from the private company since inception.
This will be interesting at best
I just consulted with an accountant friend who advises of the following.
The key. a balance sheet and equity statement are since inception. If information is missing, it is impossible to present those statements accurately. Even 1 year's information that is missing can easily cause the financial statements to not be accurate, and therefore not auditable.
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