Interesting, quick story – ‘Big Four’ Accounting Firms: Nix Quarterly Results Reporting. Surely the speed of the Internet has to be the main force behind this suggestion.
The heads of the “Big Four” accounting firms . . . said the standard financial reporting model used in the last century is growing less relevant and meaningful.
Instead, the firms proposed static quarterly financial statements be replaced by real-time, Internet-based reporting, including a wider range of performance measures.
I’m not a financial advisor, but, at first blush, this change would be dramatic. I suspect much of the corruption schemes would be difficult to perpetrate with this almost real-time approach.