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A QUALITATIVE STUDY ON THE AUDITORS’ ‘TRUE AND FAIR VIEW’ REPORTING

Jayalakshmy Ramachandran, Ramaiyer Subramaniam

DOI: 10.22495/cbv8i3art2

Abstract

Financial reporting by companies is strengthened with auditors’ report. An auditor’s report is a statement which communicates his views on the financial statements prepared by the company. When the auditors are satisfied with all the evidences they have verified, they state that the financial statements give a ‘true and fair view’. ‘True and fair view’ is in existence since a very long time as compared to various other terms. Since its introduction, ‘true and fair view’ had faced a number of criticisms. Past researchers had tried to explore this concept. None of them managed to give any additional information than was traditionally available in the books. This study concludes by stating that it is time to reconsider the concept of ‘true and fair view’.

Keywords: Auditor, Audit, Opinion, True, Fair, View, Report, Stakeholders, Organization, Override

How to cite this paper: Ramachandran, J., & Subramaniam, R. (2012). A qualitative study on the auditors’ ‘true and fair view’ reporting. Corporate Board: role, duties and composition, 8(3), 22-38. http://doi.org/10.22495/cbv8i3art2

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