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THE TRUE AND FAIR VIEW DOCTRINE: A SEARCH FOR EXPLICATION
Author(s) -
Rutherford B. A.
Publication year - 1985
Publication title -
journal of business finance and accounting
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.282
H-Index - 77
eISSN - 1468-5957
pISSN - 0306-686X
DOI - 10.1111/j.1468-5957.1985.tb00788.x
Subject(s) - explication , doctrine , quality (philosophy) , law , law and economics , political science , philosophy , epistemology , economics
This paper examines the true and fair view doctrine as currently employed by British accountants. It argues that the doctrine lacks a satisfactory explication; that the use of ‘professional judgement’ cannot provide an acceptable substitute for explication; that the unexplicated doctrine does not serve the interests of the public or the profession; and that the profession should consider using compliance with generally accepted accounting principles as its test for the quality of financial reporting, either instead of or as an explication for the true and fair view doctrine.