Fairness in Business

Ahmed Riahi-Belkaoui

Abstract


Fairness occupies an important role in accounting as it presents to the users and the market the guarantee that the accountant (as preparer) and the auditor (as attester) have striven to be fair. The conventional nature of the concept of fairness is fairness in presentation, a guarantee that the diligence and care in the preparation and attestation of the financial statements are to ensure an adequate presentation of the financial affairs of the firm. Because the central meaning of fair is fairness in presentation, this chapter explains the concept understood in the Unites States as the fairness doctrine and in Australia and Europe as the “True and fair” doctrine. The paper extends the concept of fairness to the more progressive notions of fairness in distribution and to motivate calls for expanded disclosure and accounting innovations.

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References


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Employee Reporting

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Social Accounting

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Public Reporting of Corporate Financial Forecasts

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Cash Flow Accounting

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This work is licensed under a Creative Commons Attribution 4.0 International License.