Thus, as I have been clarifying in previous posts, the registration of the information must be kept in a correlative order by dates and without any type of erasures.
As for the Inventory Book, the merchant shall record, on an annual basis, an estimated description of all its goods, both movable and immovable, as well as all its credits, assets and liabilities, whether or not they are related to its commerce.
Likewise, the commercial codes establish that the administrators of the entities must present to the commissioners the respective balance sheet for the year ended, together with the supporting documents, showing with evidence and accuracy the profits obtained and the losses experienced.
On the other hand, the commercial codes require the presentation of the balance sheet, the profit and loss account and the distribution of the company's profits.
The International Standard on Auditing, Risk Assessment and Internal Control, raises the accounting and internal control systems, in which it explains that the internal controls related to the accounting system are aimed at achieving objectives such as, transactions are executed in accordance with the general or specific authorization of the management.