IDEAS home Printed from https://ideas.repec.org/a/taf/acctbr/v39y2009i4p415-427.html
   My bibliography  Save this article

The importance of being fair: An analysis of IFRS regulation and practice – a Comment

Author

Listed:
  • Christopher Nobes

Abstract

This paper examines the ‘present fairly’ (PF) requirement in IFRS. There were eight relevant developments from 2005 to 2008, and these are mostly not yet considered in the academic literature. The paper synthesises the resulting regulatory position, especially for UK companies. Contrary to official guidance, it is suggested here that the PF requirement and the conditions for using it as an override in IFRS are not the same as for a true and fair view. Examples of the use of the PF override in practice are critically examined, as is a recent Opinion on PF by legal Counsel. Developments in US regulation make US opposition to a PF override clearer. The implications for financial reporting and for research into it are examined.

Suggested Citation

  • Christopher Nobes, 2009. "The importance of being fair: An analysis of IFRS regulation and practice – a Comment," Accounting and Business Research, Taylor & Francis Journals, vol. 39(4), pages 415-427.
  • Handle: RePEc:taf:acctbr:v:39:y:2009:i:4:p:415-427
    DOI: 10.1080/00014788.2009.9663375
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00014788.2009.9663375
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/00014788.2009.9663375?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:acctbr:v:39:y:2009:i:4:p:415-427. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RABR20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.