Irish lay into international accounting standards

Astonishing article in the Irish Times today involving an attack on international standards. The City is already abuzz with speculation that it may be doing real damage to the reputation of IFRS. See what you think. Read it here...Questions over auditing profession's role in the crisis.

The article furthers the ongoing debate of whether auditors should have been paying attention to IFRS or Irish law,and its emphasis on a "true and fair view," when they were auditing banks. This argument won't go away and the Irish press has certainly got excited about it.