Photo by Nasser Eledroos on Unsplash The first thing that must be said about the options paper released last week by Federal Treasury on regulation of accounting, auditing and consulting firms is that it is mercifully short. It’s brevity meant I did not fall asleep as a consequence because, quite frankly, it was boring, unimaginative, and it has the underlying assumption that the existing institutions just needed to have functions added to them to assist with better regulation of auditors.