True and fair view requirement ensures financial statements follow Ind ASs while permitting rare departures with full disclosure.

Ind AS 1 requires financial statements to faithfully represent an entity's assets, liabilities, equity, income, expenses and cash flows and to present a complete set comprising a balance sheet, a single statement of profit and loss together with other comprehensive income, statement of changes in equity, cash flow statement and notes with comparative information. Accounting policies must be selected under Ind AS 8; additional disclosures are required when specific standards are insufficient. In extremely rare cases a departure from an Ind AS is permitted if compliance would be misleading, but such departures require comprehensive disclosure of nature, rationale and financial effect.

---

---

---