Posted by Christie Malry on October 26, 2013 at 10:02 pm
Ritchie wants to reduce the quantity of information provided in financial accounts and he has a plan to do that:
I have always argued the data should be and needs to be in readable and downloadable format online and not in printed accounts but covered by the audit report
A link would be enough
The auditor could be protected by them having control of the file once published
And I am arguing for a report per country – not per subsidiary
This is just a terrible idea. Auditors must have a clear scope for what they're going to responsible for. Farming information onto a website doesn't protect them. Firstly, how can the auditor have control over a file that's on somebody else's website? By PGP signing? Secondly, how can the auditors protect themselves from extra information being added to their 'section' of the website?
Alternatively, I suppose, auditors' liability could be capped. But I doubt that's what he's asking for.