Section 297 — Corporations Act 2001: True and fair view

The financial statements and notes for a financial year must give a true and fair view of: (a) the financial position and performance of the company, registered scheme, registrable superannuation entity or disclosing entity; and (b) if consolidated financial statements are required—the financial position and performance of the consolidated entity. This section does not affect the obligation under section 296 for a financial report to comply with accounting standards. Note: 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 paragraph 295(3)(c).