Discuss the ethical issues of Sherry preparing her own financial statements. (100 words)

Sherry Chan has just started up a small corporation that produces jewelry. She has applied for and received a government grant. The grant will automatically be renewed as long the business shows profit at year end. as a Because she is trying to control costs, Sherry will prepare the financial statements. The bank has loaned Sherry money and is also waiting for the year-end statements. It will decide whether to renew the loan or not