参考答案：True and Fair presentationFinancial statements are produced by management which give a true and fair view of the entity’s results. The auditor in reviewing these financial statements gives an opinion on the truth and fairness of them.Although there is no definition in the International Standards on Auditing of true and fair it is generally considered to have the following meaning:True – Information is factual and conforms with reality in that there are no factual errors. In addition it is assumed that to be true it must comply with accounting standards and any relevant legislation. Lastly true includes data being correctly transferred from accounting records to the financial statements.Fair – Information is clear, impartial and unbiased, and also reflects plainly the commercial substance of the transactions of the entity.