>For me to expose my company to the liability of doing business with your company, e.g. give you credit terms, I would rather like to know your financial soundness.

I'm thinking : then we can enter into a bilateral agreement and choose an independent auditor that will certify my accounts. (Which is the idea behind the american legislation).

I really think that the government shouldn't force people to make these disclosures. It makes me very uncomfortable, as a citizen I feel my rights and my property are violated. Even at the time I'll be making 10M profit a year, I'm sorry but this is privacy, I should be free to choose with who I share this information.

And don't forget that if someone wants me to disclose but I don't, he is still free to do business with my competitor.