ICAS calls for research on the ‘true and fair view’

By Michelle Crickett, ICAS

13 April 2015

ICAS calls for applications to undertake a literature review on the role of the 'true and fair view' in accounting and assurance.

The call for research seeks applications to undertake a literature review, bringing together the existing academic and professional literature on the true and fair concept. 

The call for research lists some specific areas which the review should cover, including:

  • The historical development of the true and fair view
  • The role and meaning of true and fair in the UK and other jurisdictions
  • The impact of the introduction of IFRS on the role of true and fair
  • The use of similar or alternative concepts to true and fair
  • The relationship between true and fair and prudence

Funding of up to £10,000 is available to undertake the review, and the resultant review should be written as a short accessible document (5,000 to 10,000 words) which highlights any gaps in the existing literature and makes recommendations for policy makers and standard setters.

Michelle Crickett, Director of Research, ICAS said, "The role of the 'true and fair view' has been central to financial reporting in the UK for many decades.  However, investors continue to raise concerns about the relationship between IFRS and true and fair and it is argued that the recent changes to EU accounting legislation for smaller companies may also have an impact on the wider understanding of the term true and fair. Therefore, it is an appropriate time to re-look at this important concept."

The deadline for submission of proposals is 29 May 2015. For further details and information on how to apply please see the call for research.

Michelle Crickett, ICAS Director of Research.


  • Research

Previous Page