Editor’s Talk

Editor's Talk (From JAP No. 70)

Dear all readers.      

        What is the difference between the two terms when accountants involved with reporting both "facts" and "truth"? Facts are information or events that can be verified, proven, and confirmed based on evidence or documents, while truth refers to the state of things that correspond to reality according to feelings, beliefs or views of a person subjectively, morally, or experientially. Accountants must distinguish that we have the duty to report "facts" that can be verified by adhering to the Code of Conduct and Accounting Standards, and should not distort the information in the report from a personal perspective or any pressure from management.

        The collapse of the Office of the Auditor General of Thailand (NAO) building due to the earthquake in early 2025 is a clear example of the application of reporting "facts", i.e., facts related to this matter are the events that occurred, the impact, the insurance covered , the audit that followed. Statements such as "The building collapsed because of poor design due to corruption" or " The engineer worked loosely" are considered "truth" because they are only opinions/accusations. We still need to rely on the conclusions from the audit to be considered a "fact". In a crisis situation, accountants must adhere to the principle of reporting "facts" rather than "truths" in the form of opinions so that accounting records and reports are impartial, transparent, and verifiable.

Asst.Prof.Somchai Supphatada
Editor

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