The auditor of a company is required to form and express an opinion on the truth and
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The auditor of a company is required to form and express an opinion on the truth and fairness of the company’s financial statements. Explain briefly:
(i) The meaning frequently given to the phrase ‘true and fair’ by lawyers.
(ii) Why the lawyers’ interpretation is not useful for preparers and auditors of financial statements.
(iii) The interpretation of the phrase ‘true and fair’ which is generally adopted by the accounting profession.
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Principles Of External Auditing
ISBN: 9780470974452
4th Edition
Authors: Brenda Porter, Jon Simon, David Hatherly
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