In the absence of a more coherent test, truth and fairness can only really be measured by using the formal requirements contained in the Companies Act 1985 and the FRSs and SSAPs as a series of checklists. Select one or more of the accounting standards and read through it thoroughly. Try to identify at least one way in which it could be deliberately misinterpreted by an unscrupulous preparer of financial statements who wanted to manipulate the financial statements without actually breaking any of the rules. What insight does this exercise provide into the problems faced by auditors in deciding whether a set of financial statements give a true and fair view? How might the auditors be left open to criticism?