The Editor 

Held to account

John Hughman

Held to account

I do not envy the job of the Financial Reporting Council (FRC). Its task sounds simple: keep an eye on auditors and the companies whose accounts they sign off to make sure they’re presenting information in the most useful and honest way to investors. But the reality is that reported accounts represent the tip of an iceberg of interests that determine how a company financially presents itself to the world – and however hard the FRC works to develop and enforce improved reporting standards, a world of perfect disclosure is a pipe dream; something, somewhere will always go wrong. 

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