Who needs financial reports?

Perhaps it's time to step back from the glitzy sale around IFRS – and financial reporting in general – and reconsider, suggests Jonathan Russell

Accounting bodies of late seem to be getting more and more concerned about new IFRS regarding the form and content of financial statements. I hope it is because someone has suddenly woken up with a dose of reality. I love technology but very frequently we need to take a step back when the salesman explains some wonderful new features available on the latest office device and think 'does this function actually deliver something I want'. Just because we can, does not necessarily mean we should.

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