Faithful representation does not mean the information is 100% accurate. ‘Free from error’means there are no material errors or omissions in the description of the event or transactionand no errors in the process used to produce the reported information.Taking the reporting of an estimate as an example, a representation of that estimatecan be faithful if (a) the amount is described clearly and accurately as being an estimate and(b) the nature and limitations of the estimating process are explained and (c) no errors havebeen made in selecting and applying an appropriate process for developing the estimate.
đang được dịch, vui lòng đợi..
