Financial reporting: puzzle or mystery?

In a fascinating thought piece, Joe Fuller argues reporting models are confusing the puzzle of a business model with unexplainable mysteries. He argues that a rethink of what we require for good governance and understanding firms are reset boundaries rather than simply increased regulation.

Here we go again. Over seven years since the collapse of Enron, we find ourselves in the midst of an even more widespread accounting debacle swirling around the mortgage and financial industries, the Madoff affair and even as far afield as India with Satyam.