Enron, Andersen, Worldcom: although these companies have stopped dominating the headlines, the shock waves they sent through the business community in 2002 have not yet subsided. The belief that accounting is an exact science has been shattered, while economic relations are upset by the knowledge that financial information may be untrustworthy. Yet the market economy profoundly requires relevant and reliable information about the activity and financial situation of businesses. Taking into account the increasing strength of capital markets and international investors, the authors outline the basic elements that could constitute a new, balanced system of accounting that would accompany the necessary changes in capitalism, particularly in France and the rest of Europe. Nicolas Véron, an engineer and high-ranking civil servant, is the founder of Etudes et Conseil pour l'Information Financière (ECIF). Matthieu Autret is an expert currently working for the European Commission. Alfred Galichon is a doctoral candidate in economics at Harvard University.