Risk Audit - Training and Recruitment
Tuesday, 21 February 2012

Is it a Profit?

Bank of Ireland has declared a profit of euro 45 million.

This compares to a loss of euro 614 million last year.

Good news?

Yes until one considers that euro 1.8 billion of this profit comes from a revaluation of the bank's debt!

Isn't it time we got rid of this ridiculous accounting wheeze?

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