The concept of "true" and "false" in financial statement prepared in compliance with International Accounting Standards

The Italian regulation governing the offence of false corporate communications has recently been modified. The jurisprudence on the subject reflects rulings based on differing interpretations of the new law; even the related doctrine is not consistent. This paper analyses the phenomenon from a legal and business economics standpoint, considering the financial statements of companies that apply the provisions of the Italian Civil Code, as well as those prepared under international accounting standards. In both cases, differences are found in the possible interpretations and applications of the regulation.