Hi
Accountancy Age probably isn't your go-to magazine of choice for a bit of light reading but in this week's issue is an important article about what is wrong with accountancy, financial reporting and auditing.
It should be essential reading for everyone involved in running a business.
It reports on the Corporate Accountability Network, launched by Richard Murphy, a new initiative that aims to be the first NGO which specifically targets the weaknesses in the accounting disclosure of all companies.
Murphy says: “In the seventies, it was recognised that accountants had an obligation to produce accounts for all those who had an interest in a company, not merely the shareholders. My argument is what in 1975 accountancy recognised as its duty is now considered to be rather quaint and weird, but in fact remains its duty and it’s the profession that has got things
wrong in the meantime”.
You can read the full article here.
Let me know what you think.
Noel Guilford