Cashing in on IFRS

TS WAS CANVASSING opinions on IFRS for SMEs this 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 observer, saying firms stand to make a mint from the switch to international accounting standards.

Retraining, new text books, advising flummoxed clients – all these will pull in a few pennies for accountants, the contributor said. TS knows where it will be going to borrow money for a pint.

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Fiona Westwood of Smith and Williamson.