§ Mr. CousinsTo ask the Secretary of State for Trade and Industry if he will consult the Financial Reporting Council and other interested parties on the need for a statutory definition of true and fair in company accounts.
§ Mr. Redwood[holding answer 21 June 1990]: It is generally considered that the concept of
a true and fair viewis not readily susceptible of definition in a manner suitable for inclusion in a statute. However, I will draw the hon. Member's question to the attention of the Financial Reporting Council.