Definition : Financial statements

The complete set of financial reports, prepared at the end of each financial exercise, which shows the financial and accounting situation of the co-ownership. They include a balance sheet, the income statement for the preceding financial period, the statement of debts and claims. There are three types of accounting engagements to which the financial statements of a syndicate may be subjected, being an audit, a review, or a compilation (notice to reader). These documents are part of the register of co-ownership and shall be made available to any co-owner upon request.

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