In the course of the audit of financial statements for the purpose of expressing an opinion, the auditor will normally prepare a schedule of uncorrected misstatements. The primary purpose served by this schedule is to Summarize the misstatements made by the entity so that corrections can be made after the audited financial statements are released. Summarize the corrections that must be made before the entity can prepare and submit its federal tax return. Point out to the responsible entity officials the errors made by various entity personnel. Identify the potential financial statement effects of misstatements that were not considered clearly trivial when discovered.