BusinessCompany NewsOn the money with Gavin Hinks

On the money with Gavin Hinks

I have resisted making New Year’s resolutions with the full knowledge that I would fail in my efforts to keep them

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

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