Listed companies have been warned that regulators could well find problems
with their IFRS accounts over the next few months.
Speaking at CIMA’s annual conference, E&Y senior technical partner
Allister Wilson said that the fair-value model used in IFRS accounts undermined
the reliability of numbers – an issue that regulators were likely to probe over
the coming months.
‘Under the fair value model reliability of numbers becomes an issue and this
is going to be a risk when regulators start going through IFRS accounts,’ said
Wilson added that although there had been few examples of share-prices
suffering during the transition to IFRS, analysts and investors still had little
understanding of the standards because they were so complex.
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