Rio as far as we're concerned rowdy (7)
I believe the answer is:
riotous
'rowdy' is the definition.
(I've seen this before)
'rio as far as we're concerned' is the wordplay.
'as far as we're concerned' becomes 'to us' (as things appear to us).
'rio'+'tous'='RIOTOUS'
(Other definitions for riotous that I've seen before include "Anarchic" , "Unrestrained like crowd running amok (7)" , "Wild, uncontrolled" , "Unruly U rebellious" , "Unrestrained, wild living perhaps" .)