true and fair view - opinions

by Roderick Ramage, solicitor,

referred to in an article published in New Law Journal on 27 October 2017



The opinions of counsel listed below are, so far as I know, all the opinions written in the public debate accounting standards and the meaning of true and fair.


1983 09 13     Leonard Hoffman QC and Mary Arden

1984 03 20     Leonard Hoffman QC and Mary Arden supplementary

1993 04 21     Mary Arden CQ

2008 04 21     Martin Moore QC

2013 03 --       George Bompas QC

2013 10 08     Martin Moore QC

2015 08 14     George Bompas QC


the letter of 31 August 2015 from the Local Government Pension Fund Forum to the IFRS Working Group of the European Parliament


The 2013 opinion of Martin Moore QC is the only legal opinion about “true and fair” now available on the Financial Reporting Council’s website: see the link below.  The earlier opinions, from 1983 to 1993, are no longer there.  George Bompas’ 2015 opinion was sent with the letter of 31 August 2015.  It was his 2013 opinion that prompted the FRC to obtain Mr Moore’s 2013 opinion.  I have concentrated in my article on the 1983 Hoffman/Arden opinion, because it is their interpretation of “true and fair” in that opinion on which Mr Moore relies in paragraph 75 of his 2013 opinion. (accessed on 21/10/17)


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