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

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.