Errrm, this on increasing transparency. By using Mock’s Scale (as here, in Dutch but you’ll get/GTranslate it) on e.g., materiality levels in financial auditing and publishing them in annual figures even if only in the accountant’s statement (in full for every line item listed…). Much beyond mere ‘reasonable assurance on true and fair views’ that aren’t anything of any of those kinds.
Then, we’ll know much better where the trouble spots are. Yes, some analysts may be of a quality that they already know. But wouldn’t it be nice to let the wisdom of the crowds work on the figures’ margins as well, to detect (e.g., per big data analysis or via some OK-rating-like instrument) anomalies.
And, maybe expanded to some form of XBRL tag per communicated line item. Add a dose of fuzzy logic arithmetic and hey presto there’s your (Not)InControl-statement …?
Fit for a grad thesis, I guess.
[Rennie Mackintoshian approachability but this in Dunedin]