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letters to the Times

basically it asks for a repeal of IFRS and is signed by the great and the  good and the darn right ordinary, what doe people think about it. unfortunately you cant look online cos its behind a paywall - but you could take out the £1 30 day trial

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27th Jul 2010 13:57

Emile Woolf

Great, good or darn right ordinary?

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27th Jul 2010 14:14

Emile posibly great

when i was studying in 72 to 78 to be an ACA he was one of the gurus - i liked his teaching and writing style

he must be quite old like me now

David Davis?

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By DMGbus
28th Jul 2010 08:46

Merit for some companies

For multi national companies there might be some merit to common accounting reporting requirements.

Where the IFRS goes bady off track is when those who I describe as "out of touch with reality" (*) decide that IFRS should apply to SMEs, including the requirement to include cashflow statements.

If IFRS is in  fact adopted by the UK, I will seek ways to rebel against it for the SMEs that I prepare accounts for.

(*) "out of touch with reality" : people who seem to revel in trying to increase the number of pages in a set of accounts, redefining them as "financial statements".

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You can also read it on AccountingWEB.co.uk

Dissidents call for 'rethink' on IFRS.

I, too noted the presence of Emile Woolf among the signatories as well as Tim Bush, a member of the ASB's Urgent Issues Task Force (and not the ASB itself, as mistakenly attributed by the Times).

I had a quick word with Stella Fearnley who admitted that while they are unlikely to overturn the stated policies of the ASB and IASB, the signatories' intention was to raise awareness of the problems with the IFRS accounting model and to warn against imposing the same regime in a cut-down form on SMEs.

Feel free to add your comments here or there.

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