Dennis Howlett has written a great blog in response to Prem Sikka's Guardian blog on IFRS 8. I an only suggest you read it.

But, as a taster this is his conclusion:

When you trawl through the thinking of the Big 4 and big business, then triangulate that to stuff coming out of government, you might get the feeling that business is a gnat's whisker from running the country as a whole. The outrage at IFRS8 is just an example of how people of conscience view this trend.

It's hard to argue with that!