Spanish auditors and the 'true and fair view'

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Técnica contable, 611, (1999), pp. 779-788
http://hdl.handle.net/10230/579
To cite or link this document: http://hdl.handle.net/10230/579
dc.contributor.author Amat, Oriol
dc.contributor.author Blake, John
dc.contributor.author Oliveras, Ester
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 1999-10-01
dc.identifier.citation Técnica contable, 611, (1999), pp. 779-788
dc.identifier.uri http://hdl.handle.net/10230/579
dc.description.abstract In 1990 a new Spanish 'Plan General de Contabilidad' (PGC) implemented the requirements of the EU 4th and 7th Directives in Spain. Included in the PGC is the requirement, derived from the 4th Directive, that accounts should present a 'true and fair view', in Spanish 'imagen fiel'. Where the term has been used in English speaking jurisdictions it has proved to have a variety of shades of meaning, and to have had strikingly different impact in different countries. Within the European Union the term has been seen as a 'Trojan horse', inserted into the 4th Directive to inject an Anglo-Saxon approach of flexibility and judgement dependent accounting into a Continental European accounting tradition of detailed prescription and uniformity. In this paper we report on a survey of the views and experience of Spanish auditors relating to 'imagen fiel'. Specifically, we: 1) Review the English language literature on 'true and fair view' to identify the key areas of controversy. 2) Consider the significance of the 'true and fair view' within the EU 4th Directive. 3) Report on the experience of Spanish auditors in working with this concept, their views on the value of the term, and their experience in use of the true and fair view 'override'.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 409
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Spanish auditors and the 'true and fair view'
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2014-06-03T07:14:00Z
dc.subject.keyword Finance and Accounting
dc.subject.keyword auditing
dc.subject.keyword true and fair view
dc.subject.keyword 4th european directive
dc.rights.accessRights info:eu-repo/semantics/openAccess


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