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i just woke up. i have a cold. i have a sore throat. i need to take a shower. i have to clean the house. i am depressed. i have to pick up the laundry. i have a toothache (2nd molar. top right) i haven't any health/dental insurance i have no money because i am waiting on client's checks i have to pay my mother's mortgage with magic beans or a cow on saturday i forgot to take my anti-baby vitamin yesterday i have to double up on the ABV today i need to finish a client's website i need to do my daily shit for my other clients i have to visit gigglemom at the rehab i will be bringing GM home next wednesday at noon i have a week to reorganize the entire house i have parade duties on saturday and sunday that cut into cleaning time i was enjoying creating designs and posting them i was enjoying making some cash that i will not receive for 45 days after i sell the products i was enjoying posting them to my blog because it's part of my life right now since i do not have anything else to post like stories or pictures of kids or kittens

I detest tax evaders those who fail to declare their taxable income and gains yet enjoy the services that the rest of us pay for in the United Kingdom. HM Revenue & Customs have the moral high ground on this issue and I applaud their stance in pursuing those individuals who are evading tax and might as well be taking the cash from our own wallets and purses for all the difference it makes in moral terms. Anyway I hope that my position is clear. However we now learn that HMRC has paid £100 000 for information stolen from a bank in Liechtenstein by one of its now former employees. It seems HMRC thinks this is in order because other countries may have done the same. The trouble is that such payments for illicitly come-by data put us all at risk because more employees with an eye to the main chance will look for a quick profit by selling data about any of us and who is to say that the purchasers will be only the Treasury or other Government bodies here or abroad. I know what HMRC's own attitude would be if the two missing CDs containing the names National Insurance numbers and bank account details of Child Tax Credit claimants were sold by one of their employees or indeed any individual. I believe that if you take the moral high ground to which you are entitled you must avoid moving to the slippery slope where you are not a great deal better than those you wish to catch in your anti-tax evasion net. Receiving stolen property is an offence isn't it? Of course if HMRC had come across the information without paying for it we might take a different view. I remember when I was about nine being found in possession of a girly pin-up magazine. "Where did you get that?" asked my mother. I replied truthfully "I found it in a puddle outside the railway station on the way home from school." Not guilty as would HMRC have been (in my view) had they been sent the information unsolicited. As it is I believe HMRC have let themselves down and the rest of us also. I smell something unpleasant. Is it just me or do others feel the same way? ?? Jon Stow 2008 Links: http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/26/cnhmrc126.xml http://news.bbc.co.uk/1/hi/business/7262549.stm

Terry Gold has a nice long rant up on his blog titled   Now some of my best friends are auditors but the state dynamics and incentives of the accounting industry have gone from bizarre to complete utter madness. As an investor in many private companies I ask all of my portfolio companies to have an end of year financial audit.  Acquirers require them you need them if you are ever planning on going public and it's just good overall corporate governance. In 14 years of being an investor in private companies I've never had a material accounting fraud or legal issue show up in an audit.  Yeah - there are occasionally minor accounting changes around the margin but they are usually for generally irrelevant issues like stock option accounting minor revenue recognition issues or expense timing allocation (none of which have an impact on cash or the real financial results of the company.) Yet - every year companies pay real money ($20k for a startup over $100k for a real operating business) to go through a mind bending time consuming process that results in a very long rep letter that the CEO has to sign. Terry does a good job of highlighting the problems with this rep letter.  Basically it's a cover your ass letter for the auditors.  Ironically this just gives the bad people another opportunity to lie and be bad.  Terry sums it up nicely. 'I'm not picking on my auditors or any auditors for that matter because they aren't the ones making up all the new regulations. At their heart I think they are trying to do a good thing by holding people accountable to a high standard it's just that I'm not convinced (and neither are they) that much of this is really making companies more transparent. It's really just making it harder for the good people to comply and easier for the bad people to claim they actually did comply or that they misunderstood the rules. In the end nothing has really changed for me. If something is wrong I should have known about it and I'm going to be held accountable for it.  What can we do to keep the world from becoming a quagmire of ineffective laws regulations and rules?  Don't assume that a new regulation will fix a problem.  Work to fix the problem.  Don't enact a new rule and say 'there problem solved' because you only get credit if the problem is actually solved.  Focus energy on good people who will do their damnedest to make the right decision because it is the right decision and don't tie their hands with bureaucracy that the bad people will just walk right through without a second thought.' I'm not picking on the auditors either (remember - some of my best friends are auditors.) But the meta issue - the one of the way the whole process works - is stupid.