José María Bové, full academician of the Royal European Academy of Doctors-Barcelona 1914 (RAED), stressed the need for a comprehensive reform that even reaches the Spanish Penal Code to ensure that financial reports, balance sheets and accounts and audits of companies are transparent and reliable and reflect their real economic and accounting situation. A well-known auditor and consultant, Bové was especially critical during his speech at the Third International RAED, which took place between 15 and 22 July in different Baltic cities, with administrations that have been too lax in this area and have contributed to the effects of the recent economic and financial crisis have gone well beyond where a well regulated market would have allowed.
“Financial reporting is no longer a domestic issue, it has taken on a global dimension and we need rigorous control in all countries with economies we can rely on. Reports, balance sheets, accounts and audits should build confidence, and we must reach the end, even updating the Penal Code”, he said during his speech. Bové presented the paper “Financial reporting and auditing in a global environment”.