👉 Purges, also known as purge operations or purge procedures, are methods of managing a company's financial statements. They involve reviewing and correcting errors in the company's financial reports to ensure accuracy and completeness. The goal of purging is to reduce the amount of information that needs to be disclosed about the company's financial performance. This can include correcting incorrect data, removing duplicate entries, or ensuring that all relevant information has been included in the report. Purges are typically performed by a team of
