To ask if financial statements should "represent fairly" or be "relevant" gives a political dimension to the trade-off between reliability and relevance, two characteristics of financial reporting that the IASC/IASB Conceptual Framework does not consider to be conflicting. However, depending on...

There is an enormous literature relating to the true and fair view (hereafter TFV). We are concerned with how the concept is actually perceived by various actors in an emerging economy which has only recently joined the European Union, i.e. Romania. Romania has a code law system with an obvious...