CASE STUDY IFRS is a Big Four gravy train by Richard Murphy

Murphy claims that the IASB does not act in the public interest. They are a private cartel designed and promoted for the benefit of their biggest sponsors who are the Big 4 firms of accountants. Critically examine the validity of the above statement. What are the implications for accounting in different countries if the above allegation is true? (10 marks= 750 words)