To report or not to report. In the end it is up to you.
But brings to mind the hours on R22 blades. They have a habit of failing when their hours are exceeded. But when do they fail? Is it only a few hours or a lot of hours after their life has been exceeded? One thing is for sure, if they fail it is catastrophic. This is but an example, and not a theoretical example, it has happened to helicopters that have overflown their hours by pilots who failed to record the hours properly!!
Even though it is easy for me to say as I am one of the lucky ones working for a reputable company that would sack you for not properly recording hours, I would suggest you move on and find something else. Particularly if after tackling your boss about it you don't get a reasonable explanation! Your life, or the life of one of your mates, might depend on it!!