I have a dream of an omniscient intelligence developing, logical, sensible, cost effective and integrated rules and systems for accounts and audits. Possibly we are not quite there yet?
Anyone else share this dream? Is it completely unrealistic? Or am I asking for the wrong thing completely? It could even be argued that if the system were too simple (have you seen BIS's recent discussion paper on simplified accounting and possibly tax for micro-entities?) the world wouldn't need as many accountants as it has!
I will be interested to read the thoughts of others.