But questions remain.
Why is Companies House still classed as a ‘filing cabinet’– or simply a
repository of information? Auditors, who fulfil a vital role and upon whose
reputation the business community relies, have not cropped up for identity
protection in current legislation.
And while their plight is being ignored, Accountancy Age has revealed
real-life auditors’ details are also being stolen to trick agencies like
Graydon, into awarding favourable ratings.
There is sympathy for the auditors’ plight from Companies House spokespeople,
but they say their hands are tied, even though e-filing is up and running and
will help directors protect the use of their details when the bill goes through.
The government body is speaking to those drafting the bill about the issue,
but it doesn’t seem to have hit home. There is little hope that the eventual
legislation will contain protection for auditors’ details from fraudsters, or
give Companies House any real monitoring power.
With one auditor having their details stolen a month by fraudsters, are you
prepared to be the next on the list?
Kevin Reed is a reporter on Accountancy Age
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