5 Disruption in reporting – the evidence
Evidence
This evidence represents a pre-pandemic period when there were a number of failures. Wirecard’s problems were pre-pandemic, so it falls within this body of evidence. The advances in auditing will not, by themselves, prevent future scandals. Setting that aside, we now discuss other problems and issues with financial reporting and corporate reporting. So we have the Select Committee’s statement:1 ‘Carillion’s accounts were systematically manipulated to make optimistic assessments of revenue’.
And the committee commented that the stewardship and governance codes were insufficiently detailed to be effective and, they exist, completely unenforceable. A more active and interventionist approach would ...
