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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 297
True and fair view
The financial statements and notes for a financial year must give a true and
fair view of:
- the financial position and performance of the company,
registered scheme or disclosing entity; and
- if consolidated financial statements are requiredthe 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
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