这四家跨国公司在政府中呼吁提高商品及服务税，但他们实际上披露的资金非常少。很少有其它公司像强生(Johnson and Johnson)和辉瑞(Pfizer)那样，在2010年突然停止了完成报告的业务。另一个例子来自澳大利亚第二大健康保险公司“Bupa”。这家公司还没有解释，为什么除了数百万的保单持有人，它没有其他任何利益相关者。相反，该公司拥有约30亿美元的资产和11,295名员工。同样，新闻集团表示，除了母公司，它的账户对任何人都没有任何利益。谷歌和eBay等其它公司一直在提供不完整的报告。
The article clearly describes the failures which have been faced in the profession of accounting. It is such a kind of failure which has an impact on each and every person including men, women and children in the entire nation.
The primary reason is that in the past few years many companies have not provided their financial statements in the past few years. This includes the multinationals such as BMW, News Corporation, Adidas etc. These companies have moved from “general purpose” financial reports to “special purpose” financial reports as it entails lesser numbers of disclosures. This may also lead to the avoidance of taxes. An example of the same is the change done by “Ansett airlines” before its collapse, when it changed its policy related to accounting from “general purpose” to “special purpose” in order to hide information from millions of stake holders. Because of this, the information from the number of stakeholders was kept hidden. This led to the shock for the creditors as they were under losses when the company crashed.
One of the major issues which is to be faced by the people is that the four biggest firms in Australia cannot be trusted. The entire income tax system which is in Australia is dependent on the CA’s working in the firms who are heavily paid for hiding the taxes. Though, it has been reported by Fairfax Media and UNSW that such practices are under declination.
These four multinationals are invoking amidst the government for doing a hike in GST, but they are actually disclosing very less money. There are few other companies as well such as Johnson and Johnson and Pfizer who suddenly ceased to the completing reporting entity in 2010. Another example is from ‘Bupa’ which is the second largest health insurance company in Australia. This company has not given the explanation that why it does not have any other stakeholder apart from its million of policy holders. On the contrary, the company has around $3 billion in assets and 11,295 employees. Similar, News Corporation states that it accounts are not of any interests to anyone except its parent entities. Other companies such as Google and eBay have been providing the incomplete report.