Would an online accounting validation tool be of any use?

Some people may have come to this thread from a query I posted in Any Answers asking for suggestions for accounting and compliance checks, ratio/risk comparisons and any other tests you would subject a set of accounts to before submitting it to HMRC.

Because accounts have to be submitted in iXBRL format, these checks can now be automated. HMRC applies its own rules, but we are investigating the possibility of bolting on some additional cross-checks.

Would such a service interest you if it were made available through AccountingWEB, and if it was taken to its logical conclusion would you want to benchmark your clients' accounts against similar sized entities in the same industry?

This is all very exploratory at the moment, but any feedback we get from you could help shape future developments in this area. Do you think the basic idea has legs, and how far do you think it can go?

Answers below, please.

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