AASB 101 Presentation of Financial Statements
Fair presentation, going concern and accounting basis – AASB 101 Presentation of Financial Statements

AASB 101 Presentation of Financial Statements 15-17: Achieve fair presentation through compliance, and say so plainly

What does 15-17 require?

A set of financial statements is expected to give a faithful picture of the entity's financial position, performance and cash flows, and reaching that outcome, in virtually every case, comes from following the applicable accounting standards in full rather than from some separate test of fairness. Where a report has been prepared that way, the entity states so without qualification or hedging.

Maintained by Gerard Blokdyk

What else in your programme already covers this

This control maps to 2 controls across 2 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.

AASB 1054 Australian Additional Disclosures · 1 control

  • 7 Make an explicit and unreserved statement of compliance with Australian Accounting Standards in the notes, and never claim compliance unless every requirement is met

EU Accounting Directive (Directive 2013/34/EU) · 1 control

  • A4 Annual financial statements as a composite whole giving a true and fair view

Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.

Other controls in Fair presentation, going concern and accounting basis – AASB 101 Presentation of Financial Statements

Query this from an agent

The graph holds this control, the 2 it maps to, and the evidence behind each claim, over MCP and REST.

MCP endpointAll AASB 101 Presentation of Financial Statements controls