ASIAPEDIA

Q&A

How can a “true and fair view” be achieved in Indian audit?

Return to search

Infographics

How can a “true and fair view” be achieved in Indian audit?

Posted On April 2013

A “true and fair view” can only be satisfied if the financial statements are accurate and not misleading.

The company can expect the auditor to have provided a true and fair view, if the following criteria are met:

  • The accounts are prepared with reference to the entries in the account books;
  • Entries are supported by proper vouchers, documents or other evidence;
  • No entry in the account books are omitted while preparing the financial statements and nothing is included in the financial statements that were not in the account books; and
  • The financial statements are prepared in accordance with the relevant accounting standards.

Furthermore, the auditor must comply with the relevant auditing standards whilst conducting the audit process and expressing his/her opinion in the audit report.

Get in touch

We provide expert advisory and corporate services across Asia, guiding businesses through complex markets and regulations.

Have Any Questions?

Reach out to our local experts, we’ll respond within one business day.

captcha image

It appears that you have recently submitted an inquiry on this topic. Would you like to
replace your previous submission with this one?