Instead, I will take a punt at naming the resolutions the profession should
avoid, for fear of leaving them neglected along the business wayside, in 2008.
- Resolve the audit choice debate. This one’s going to run and run, as there
is no chance that 2008 will see the arrival of a new global firm. It is a real
it is clear that we are in need of one and a lot of work has been done into
edging towards a solution.
- Make data collected by government absolutely secure. The government is an
employer of vast numbers of people and a user of leviathan-like computer
Something’s always going to give and, as recent news has shown, the thought that
the missing HMRC discs was an isolated incident is an utterly naïve one.
- Carousel fraud will be made a thing of the past and its honest victims will
be treated fairly. There’s too much money in this and HMRC’s thinking much too
narrow for this to come true.
- The US to fully adopt IFRS. My sides split laughing at this one. The US’s
sense of its own superiority is much too inflated to make this a realistic
resolution. Expect a few more concessions, but no rolling over.
- Auditors to publicly reveal what in particular was wrong with the accounts
they audit. This could do the profession so much good, but it’s a complete
flight of fancy.
It is as likely as Northern Rock savers feeling like their money is safer than
being under the mattress.
- The tax system to be simplified so that everyone transparently pays a fair
whack. Dream on.
And please don’t call me cynical.
Gavin Hinks is editor of Accountancy Age