On the money with Gavin Hinks

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
  shame because
  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
  systems.
  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