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IFRS accounting appears to allow Barclays to double stated profit

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It has been brought to my attention by PIRC that Barclays are leaving £2 billion of bonuses out of their accounts within IFRS rules. Taken together with another flaw in IFRS, it appears that Barclay’s true profit is about half that allowed under the rules. Via the PIRC site: Barclays is still leaving bonuses of more than £2.0bn out of its accounts, nearly three times the dividend for 2011 (£730m), according to analysis by PIRC. PIRC research last year identified that at […]

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