As Paul George of the FRC says below, a lack of transparency in reporting undermines trust in business, but also in financial statements. Many of the professions take the approach that being 'guarded' is in their interests but with ever increasing interest / scrutiny on financial statements, could such actions be seen as evasive?  There is an opportunity for good, open, honest commentary that the market would view as a positive so will it be your firm that leads the way?