Give that a quick look and all looks great: as one would hope, the overall chart shows a steady increase to the right. It’s so ingrained in us to look for this that the message from this chart appears unambiguous: things are getting better.
Then check the X-axis. The timeline is the reverse of that invariably used. The most recent data is on the left of the chart, and the oldest on the right. Things are not getting better. Things are getting worse, and very much so.
That makes me want to ask a basic question. If the FRC is committed to ensuring that true and fair views are given why did it choose to misrepresent the data it is delivering today to imply something that is not true? Why is it presenting its own data, in other words, in a way that is neither true or fair?
If we are to have confidence in a regulator that is responsible for the truth and fairness of data surely we should be able to presume that they will uphold that standard themselves.
Have you ever noticed how financial accounts are generally presented?
Most recent period to the left, receding into history as we move to the right? And the idea that the Financial Reporting Council would use the standard layout for financial reporting is just absurd, right?
Either that or they’re Hebes. That all three professors are spouting on a subject unknown to them could not possibly be true.