‘True and fair’ view team confirmed

Michelle Crickett By Michelle Crickett, ICAS

22 June 2015

ICAS announces team to undertake new research on the 'true and fair view'.

The role of the 'true and fair view' has been central to financial reporting in the UK for many decades.

However, investors and MEPs 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. Therefore, it is an appropriate time to take a fresh look at this important concept.

ICAS called for applications from researchers to undertake a literature review on the role of the 'true and fair view' in accounting and assurance.  Following a number of high quality applications, ICAS is pleased to announce that the following team of academics has been commissioned to undertake this review:

  • David Alexander - Emeritus Professor of Accounting, Birmingham University
  • Marios Costa - Lecturer in Law, City University
  • Omiros Georgiou - LSE Fellow, London School of Economics
  • Markus Grottke  - Post-doc researcher, University of Passau
  • Thomas Schildbach - Emeritus Professor of Accounting, University of Passau

The review will be undertaken in the next six months and published in early 2016. 

Michelle Crickett, Director of Research, ICAS said: "The debate on the 'true and fair view' continues and ICAS believes that bringing together the existing literature in a user friendly report and identifying any gaps in knowledge will help take that debate forward.

"We are delighted to have awarded this grant to the team of academics and look forward to working with the team on this important concept.

"We believe that they will provide an excellent review of the international literature on this topic and that the resultant publication will be useful to the profession generally, but particularly so to standard setters and regulators."

For further details email Michelle Crickett.

Topics

  • Research

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