THE TRUE AND FAIR VIEW CONCEPT IN ROMANIA: A CASE STUDY OF CONCEPT TRANSFERABILITY

Catalin Nicolae Albu, Nadia Albu and David Alexander
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Catalin Nicolae Albu: Chair of International Accounting and Financial, Facultatea de contabilitate și informatică de gestiune, Bucuresti - CIG ASE - The Faculty of Accounting and Management Information Systems, Academia de Studii Economice din Bucureşti - A.S.E. - The Bucharest University of Economic Studies / Academia de Studii Economice din Bucureşti
Nadia Albu: Chair of International Accounting and Financial, Facultatea de contabilitate și informatică de gestiune, Bucuresti - CIG ASE - The Faculty of Accounting and Management Information Systems, Academia de Studii Economice din Bucureşti - A.S.E. - The Bucharest University of Economic Studies / Academia de Studii Economice din Bucureşti
David Alexander: Birmingham Business School - University of Birmingham [Birmingham]

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Abstract: 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 preference for the legal form. Two main steps have been taken for the purpose of our study. First, textual analysis of all accounting regulations has been performed with respect to the provisions regarding the TFV concept. Second, nine in-depth semi-structured interviews have been conducted with top representatives of the Romanian regulator, preparers, auditors and professional bodies. The perception on TFV depends firstly on the category: for auditors, this is a guide or a vital concept, closely related to substance over form, relevance and usefulness for users, while for regulators and preparers, TFV is primarily compliance with the rules.

Keywords: true and fair view; true and fair view override; Romania; dérogation pour image fidèle; Roumanie (search for similar items in EconPapers)
Date: 2009-05-27
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00458913v1
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Published in La place de la dimension européenne dans la Comptabilité Contrôle Audit, May 2009, Strasbourg, France. pp.CD ROM

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