A group of investors has written to the Financial Reporting Council (FRC) to investigate Barclays over claims that IFRS is distorting the reporting of its bonus liabilities.
The Daily Telegraph reports that in a letter to the Financial Reporting Review Panel (FRRP), which sits beneath the FRC, investors have outlined their concern that IFRS has allowed Barclays to delay the impact of £1.4bn of bonus payments on profits.
Shareholders have expressed concern that the accounting rules are distorting the figures of all the big UK banks - affecting both reported profits and dividend payments - however the overall investigation is not expected to be limited to just one bank.
About Robert Lovell
Business and finance journalist