Money talks for IFRS conversion
Are firms purely interested in SMEs converting to IFRS because it will be a money-spininer? They're surely not.
TS WAS CANVASSING opinions on IFRS for SMEs last week, and one concerned contributor claimed accountants are all in favour of the changes for less-than-honourable reasons.
Filthy lucre is on their minds, claimed the stakeholder, saying firms stand to make a mint from the switch to international accounting standards. Retraining, new text books, advising flummoxed clients – all these stand to pull in a few pennies for accountants, the contributor said.
TS knows where it will be going to borrow money for a pint.