Define: True And Fair View

UK Accounting Glossary

Definition: True And Fair View


Quick Summary of True And Fair View


Requirement of UK company law for UK companies not using IASB system.



What is the dictionary definition of True And Fair View?

Dictionary Definition


A True and fair view in accounting (specifically auditing) means that a financial statement is free from material misstatements and faithfully represents the financial performance and positioning of an entity.


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Full Definition of True And Fair View


The expression that is used by auditors to indicate whether, in their opinion, the financial statements fairly represent the state of affairs and financial performance of a company.


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True And Fair View FAQ's



Cite Term


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Page URL
https://payrollheaven.com/define/true-and-fair-view/
Modern Language Association (MLA):
True And Fair View. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 16, 2019 https://payrollheaven.com/define/true-and-fair-view/.
Chicago Manual of Style (CMS):
True And Fair View. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/true-and-fair-view/ (accessed: September 16, 2019).
American Psychological Association (APA):
True And Fair View. PayrollHeaven.com. Retrieved September 16, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/true-and-fair-view/

Definition Sources


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This glossary post was last updated: 23rd December 2018.