I have read in ISA 700 revised.
What is meant by Fair Presentation Framework and Compliance Framework?
Ask the Tutor ACCA AAA
Fair Presentation Framework and Compliance Framework
3y ago#1Welcome to my forum!
IFRS is a fair presentation framework i.e. reporting requirements are aimed at financial statements that "present fairly, in all material respects.... ".
A compliance framework is more rules based rather than principles based.
3y ago#2You need only know fair presentation for AAA.
Sign into reply to this topic.