So, about Wirecard Snippa tells us that:
They will not pass company law that requires that accounting is responsible to all stakeholders, and not just shareholders.
They have not been willing to address the failure of the IFRS to address tax abuse via country-by-country reporting – which they have refused to consider.
They have accepted that the IFRS will not go near climate change because they say they are not competent to do so.
As a result, governments tolerate the accounting standard setter refusing to address the two biggest issues in accounting today because the profession does not wish these matters to be addressed.
And across the whole neoliberal world this is considered acceptable by governments.
Well, OK, that’s the Spud Blog Generator Mark I revving up. But the fun part is this:
But don’t get excited. The FREP apparently had just 15 employees and a budget of €6m. BaFin may be little better.
BaFin, which is a state body, was hugely, horribly, worse. Actually trying to jail the FT reporters working on the story.
Spud still can’t grasp that the state can be worse.