The research also lays part of the blame at auditors who are failing to be sufficiently rigorous in auditing IAS compliance.
However, it is a shared responsibility and is a situation that cannot be allowed to continue if companies are to meet the European Union’s 2005 deadline for full IAS compliance.
It’s hard not to have some sympathy; talk of international standards has been around for a long, long time. But if there is a message that this research should hammer home it is that the EU’s deadline is real.
And it’s imminent.