I have mused for some time as to how Banks, which had been audited as “going concerns” could, in some cases, a few months later collapse into insolvency.
It seems this question, which might usefully have been addressed had an inquiry been undertaken into the activities of Banks and their associates, is troubling many others in the UK.
At least the issues around prudential accounting, or the lack thereof, are getting a hearing there.
IFRS under fire at Parliamentary hearing | AccountingWEB
EU negligence on accounting standards allowed Irish banks to conceal losses - The Irish Times - Mon, Jan 21, 2013
Accountants ignored company law and protected bankers - The Irish Times - Mon, Jun 04, 2012