Consequences of unresolved discrepancies

[Starmix]

Failure to address financial discrepancies can have severe consequences which include inaccurate financial reporting. This will lead to flawed –decision-making by management and investors. There will be legal and regulatory issues to occur. Non-compliance with accounting standards and regulations can result in penalties and legal action. It will also cause reputational damage, thus will lead to loss of trust from investors, customers, and other stakeholders. This will lead to financial losses if action isn’t taken seriously especially if the cause is fraud or theft. or inefficient operations.

 

[Springtime]

If there are financial discrepancies, the company needs to resolve it as soon as possible because a wrong financial picture may lead to poor decisions.

 

[Augusta]

Unresolved discrepancies,at work, can lead to a variety of negative consequences like decreased productivity, increased stress and anxiety. damage team dynamics, and ultimately lead to higher turnover rates and a toxic work environment.

 

[Starmix]

The worse scenario may come in once the financial discrepancy isn't resolved. It may result to legal action. The one doing the mismatched financial result must correct it incase it's done by human error.

 

[eLdavis]

One major consequences of unresolved discrepancies is that it would often lead to wrong calculations or results.

 

[Augusta]

Unresolved financial discrepancies can lead to several negative consequences, financial mismanagement, inaccurate financial reporting, poor decision-making, and even potential legal and regulatory issues.

 

[Starmix]

The results of having financial discrepancies will be severe if it is not resolved as soon as found . The management will be sanctioned by the Bureaus of Internal Revenue.