Method and system for an adapter is provided. The adapter includes a plurality of function hierarchies, with each function hierarchy including a plurality of functions and each function being associated with an event. The adapter also includes a plurality of processors for processing one or more events generated by the plurality of functions. The adapter further includes a first set of arbitration modules, where each arbitration module is associated with a function hierarchy and receives interrupt signals from the functions within the associated function hierarchy and selects one of the interrupt signals. The adapter also includes a second set of arbitration modules, where each arbitration module receives processor specific interrupt signals and selects one of the interrupt signals for processing an event associated with the selected interrupt signal.