CORPORATIONS ACT 2001 - SECT 297 True and fair view
CORPORATIONS ACT 2001 - SECT 297
True and fair viewThe financial statements and notes for a financial year must give a true and fair view of:
(a) the financial position and performance of the company, registered scheme, registrable superannuation entity or disclosing entity; and
(b) if consolidated financial statements are required--the financial position and performance of the consolidated entity.
This section does not affect the obligation under section 296 for a financial report to comply with accounting standards.
Note: If the financial statements and notes prepared in compliance with
the accounting standards would not give a true and fair view, additional
information must be included in the notes to the financial statements under
paragraph 295(3)(c).