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TRUE AND FAIR 同true and correct 的分別

大窮鬼

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1^# 大中小發表於 2007-10-28 22:38 只看該作者

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TRUE AND FAIR 同true and correct 的分別

plz help me.................

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師父

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2^# 大中小發表於 2007-10-30 11:41 只看該作者

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full GAAP uses TRUE AND FAIR
141D uses true and correct.

difference ? hell knows !!

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icing

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3^# 大中小發表於 2007-11-7 03:10 只看該作者

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Fair doesn't mean it's correct......

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gunman_keung

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4^# 大中小發表於 2007-11-7 12:09 只看該作者

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原帖由 icing 於 2007-11-7 03:10 發表
Fair doesn't mean it's correct......

"True and Fair" usually applied to "System audit" - minor error is acceptable - in view of "Materiality"

"True and Correct" usually applied to "Balance Sheet audit" - no error is acceptable - "absolute correct" ................

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大窮鬼

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5^# 大中小發表於 2007-11-8 01:37 只看該作者

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原帖由 gunman_keung 於 2007-11-7 12:09 發表

"True and Fair" usually applied to "System audit" - minor error is acceptable - in view of "Materiality"

"True and Correct" usually applied to "B ...

thz thz//////////////////

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5984

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6^# 大中小發表於 2007-12-4 22:09 只看該作者

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引用:

原帖由 gunman_keung 於 2007-11-7 12:09 發表

"True and Fair" usually applied to "System audit" - minor error is acceptable - in view of "Materiality"

"True and Correct" usually applied to "B ...

I don't think so.
Both "true and fair" & "true and correct" are required by the Companies
Ordinance.
Yet, legally speaking, there is no strict definition between two, but, as far
as I know, the requirement under "true and fair" shall a bit higher than
"true and correct".

"True and fair" applies to accounts not applying s.141D (in legal sense)
while it is specified in s.141D that accounts prepared under this section
shall be presented in "true and correct". As we understand that
companies not adopting s.141D will use "normal GAAP' which the
requirement is higher than "SME GAAP", hence it is assumed that
accounts under "true and fair" shall be "more acceptable" than "true
and correct".

Welcome to discuss.

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師父

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7^# 大中小發表於 2007-12-6 16:51 只看該作者

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think about it.
it makes no difference to the client, who knows shit
it makes no difference to the auditor, who just pretend he has done the work
it makes no difference to the manager, who just sign the account

so they must be the same

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peninsula

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8^# 大中小發表於 2007-12-6 22:14 只看該作者

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原帖由師父於 2007-12-6 16:51 發表
think about it.
it makes no difference to the client, who knows shit
it makes no difference to the auditor, who just pretend he has done the work
it makes no difference to the manager, who just ...

You are so right!

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kkkhkkk

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9^# 大中小發表於 2008-1-13 23:10 只看該作者

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There is no absolute in ACcounting

相關搜索目錄: Accounting

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sobad

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10^# 大中小發表於 2008-2-10 20:18 只看該作者

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提示: 作者被禁止或刪除內容自動屏蔽

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peninsula

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11^# 大中小發表於 2008-2-11 19:33 只看該作者

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原帖由 kkkhkkk 於 2008-1-13 23:10 發表
There is no absolute in ACcounting

No absolute in anything!

相關搜索目錄: Accounting

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hehehaha123

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12^# 大中小發表於 2008-2-21 03:05 只看該作者

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thx..........

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Ricky仔

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13^# 大中小發表於 2008-4-2 00:07 只看該作者

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原帖由師父於 2007-12-6 08:51 發表
think about it.
it makes no difference to the client, who knows shit
it makes no difference to the auditor, who just pretend he has done the work
it makes no difference to the manager, who just ...

as my experience, there are difference to banker