As the chief financial officer of King Casinos Ltd, due to the global pandemic sales revenue has significantly declined. You discover that the Managing Director has included highly inflated revenue estimates in the current year's financial statements and you determine that these amounts are material.

The misleading financial statements are contained in the company's annual report, which is to be issued to the public.

Required:

a) State the ethical issues that are of concern to you and briefly discuss what would you do as the chief financial officer?

b) Briefly discuss what action you would take if any?