Take the following as truth: Although the following standard on reporting on compliance with laws and regulations and on internal control over financial reporting is applicable to audits of financial statements, the requirement to report deficiencies in internal control (see paragraphs 5.11 through 5.15) and reporting fraud, illegal acts, and other noncompliance (see paragraphs 5.16 through 5.26) is applicable to all financial audits.
Then the following statement: "Reporting helps to keep the standards relevant when doing financial audits." is true, false, or inconclusive?
Answer: Inconclusive