Co-operatives National Law (Queensland)
sec.275True and fair view (cf Corporations Act s 297 )
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sec.275 True and fair view (cf Corporations Act s 297 )
The financial statements and notes for a financial year must give a true and fair view of— the financial position and performance of the co-operative; and if consolidated financial statements are required—the financial position and performance of the consolidated entity. This section does not affect the obligation under section 274 for a financial report to comply with accounting standards. If the financial statements and notes prepared in compliance with the accounting standards would not give a true and fair view, additional information must be included in the notes to the financial statements under section 273 (3) (c). (sec.275-ssec.1) The financial statements and notes for a financial year must give a true and fair view of— the financial position and performance of the co-operative; and if consolidated financial statements are required—the financial position and performance of the consolidated entity. (sec.275-ssec.2) This section does not affect the obligation under section 274 for a financial report to comply with accounting standards.
- (a) the financial position and performance of the co-operative; and
- (b) if consolidated financial statements are required—the financial position and performance of the consolidated entity.