| The accounting objects change with the transformation of our country from planned economy to market economy, which makes it probable to choose accounting treatments. As the economic consequences of accounting information will be more prominent in the market economy, the probability of conflicts caused by accounting issues among economic bodies with different interests is increasing sharply. Economic bodies being equal in the market, the interest conflicts among them can not be settled by administrational measures. Laws become the main criteria of accounting work and main measures to settle the interest conflicts. Therefore, accounting related legal issues come into being.Though great progress has been made in accounting related legislation of our country, there is still a long way to go. Following problems need to be solved. Authenticity of accounting information has not been clearly defined in the law. Uniformed institution of justice appraisal about accounting issues has not been established. It is not prescribed concretely which kind of civil responsibilities CPA with different degree of fault should bear and how to distribute civil liabilities if there are two and more violators. Without civil compensation mechanism in the security market, investors are faced with great obstacles when they claim on compensation to accounting fraud. And, detailed lawsuit proceedings of civil compensation in the security market are not prescribed.Though numbers of scholars have done researches on the problems mentioned above and brought foreword many valuable suggestions about bettering accounting related legislation, these researches have not been organized in a uniform framework, and had no common ground on which every department in the society may agree yet. Enlightened by economics and law, or the so called economic analysis of law in the legal circle, which is a rising academic interdiscipline of contemporary western economics and jurisprudence, the author sets up from the concept of efficiency, which is the common target of accounting and jurisprudence, and analyzes the major accounting related legal responsibility issues on the basis of economic theories in this paper. And then, the author puts forward some policy suggestions about how to improve the related legislation.In the opinion of the author, authenticity of accounting information should be defined by the perspective of process authenticity, because there is cost of accountinginformation production and the definition should be in accordance with minimum social cost. As for CPA industry, it is especially necessary to establish legal professional standards to make up the limitation of the institution and eliminate the social expectation gap. As accounting issues are complex, forensic accounting system should be established to take from low efficiency caused by false adjudgement.From the view of economics, law is aiming at inducing people to behave in accordance with social efficiency and requiring violators to compensate the loss caused by lawbreaking to society. Therefore the degree of penalty should be determined according to the subjective expectation of the violator about income from lawbreaking and the extent to which the behavior reduces social efficiency. Of all kinds of penalties, civil compensation should be satisfied at first. If there are more than one violators, the lower social efficiency caused by lawbreaking, the higher percentage of penalty should be shared. One should bear total responsibility if conducting without social efficiency at all, namely fraud. As there are some excess profits in the CPA industry, it is logical for accounting companies to bear additional compensation, namely Deep Pocket Theory. However, additional responsibility should be no more than excess profits.With considerations of tort case characters, the author analyzes the policy choice about legal proceedings of such kind of cases in the security market from the view of saving suit cost and improving suit efficiency, and concludes that: (1) tort cases in s...
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