ABSTRACT
The study investigates the perceptions of the true and fair view as held by accountants, bank officers and managers. From the responses of 446 subjects and the results of multidimensional scaling and cluster analysis, it is found that perceptions of the true and fair view are very similar across the three groups. In particular, all three groups associate the following concepts and terms closely with the true and fair view: not misleading, absence of material errors, objective and free from bias, exercise of proper judgment, and accurate and correct. In addition, all three groups differentiate compliance with GAAP and/or compliance with legal requirements from true and fair. These findings are further supported by the results of individual scaling analysis.