In fact, what PWC is doing is to say that these other stakeholders do matter. They are not delaying their accounts because they could not estimate their provisions right now. Very obviously, they could. What they are instead saying is that in many ways these estimates of bonus and profit payouts are more important than the profit figure itself, because they will impact real lives. In other words, although they are not saying it, and the press report does not state the fact, what PWC is doing is to say that stakeholders matter, and it is taking time to get stakeholder reporting right. That, it is saying, is enough to justify a delay.
I welcome this delay then. It is a small step in the right direction in accounting, to a world where stakeholders matter.
People who get profits aren’t stakeholders, they’re capitalists.