true and fair view

"The accounts upon which we reported did not give a true and fair view," the statement said.

Such treatment can only be justified if it is necessary to give a true and fair view.

But the Panel seems to have concluded that it failed to give a true and fair view.

The accounts will give a true and fair view.

But in others, the accounts adopt, at a minimum, best commercial practice, that is, they show a true and fair view.

The report must also state whether a company's accounts give a true and fair view of its affairs at the end of the year.

Thus, in many cases we cannot have both a true and fair view and an unfudgeable figure'.

A financial statement should reflect true and fair view of the business affairs of the organization.

"We said they were a true and fair view, which they were, given the amount of information available at the time."

The note adds: 'The directors consider that this accounting policy results in the financial statements showing a true and fair view.

His accountants say that the accounts do not give a true and fair view of his party's affairs.

British diplomacy had ensured that the true and fair view remained as the objective of accounts preparation.

Such provisions may require the departure from a specific accounting standard (override) to the extent necessary to give a true and fair view.

In the absence of detailed requirements, the question of what gives a true and fair view is notoriously subjective.

The consolidated accounts should provide a true and fair view of the financial and operating conditions of the group.

The Court has evaluated the EU accounts as giving a true and fair view without any reservation.

The directors may depart from statutory requirements if they would prevent the accounts from showing a true and fair view.

There are minor exceptions where small units, which are said to compete with the private sector produce accounts showing a true and fair view.

The Companies Act 1989 requires a company to keep accounting records which give a true and fair view of the financial position of the company.

However, the law's general requirement is that accounting for assets and liabilities must represent a "true and fair view" of the company's finances.

Surely, readers will say, an unqualified audit opinion that the accounts show a true and fair view suggests a degree of objectivity and reliability?

This would enable the financial statements of CSD to provide a "true and fair view of the complete operations of the organisation".

The Task Force reached a consensus that in cases where the true and fair view override is being invoked this should be stated clearly and unambiguously.

Other exceptional items should be disclosed in the notes, except where disclosure in the profit and loss account is necessary to give a true and fair view.

No depreciation is provided on the freehold investment property and the directors consider that this accounting policy results in the accounts giving a true and fair view.