The True and Fair View in the European Union

David Alexander, E Eberhartinger

    Research output: Contribution to journalArticle

    14 Citations (Scopus)


    This paper explores the issue of the true and fair view (TFV) and the overriding principle within the European Union (EU), via a legally based analysis of the relationship between EU and national laws. We apply the supremacy of European law to methods of incorporating the TFV into national legislation, using Austria as a detailed case study, showing that all countries - maybe against their original intention - either have an override (as does Austria, contrary to the prevailing local opinion) or have failed to honour their EU commitments. As part of our argument, we explain the importance of the Roman law teleological principle in legal application and interpretation, as is well known in Continental countries. We show that the effect of the UK TFV override is in principle exactly analogous, only arguably even more powerful, which is not at all well known in Anglo-Saxon countries. We suggest reasons why the status quo ante in particular countries may be adhered to, and generalise the implications of our arguments.
    Original languageEnglish
    Pages (from-to)571-594
    Number of pages24
    JournalEuropean Accounting Review
    Issue number3
    Publication statusPublished - 1 Sept 2009


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