Study On The Civil Liability Of Certified Public Accountant At Unreal Disclosure

The system of information disclosure is the base of the securities market, and it is also the core of the securities law. In protecting the interests of investors and keeping the order of securities market, it plays an in important role. Therefore, the system of information disclosure was established in securities law in almost every country all over the world, demanding the people who give the wrong information to undertake the corresponding legal ability, which is also done in our country. To our regret, the phenomena of misrepresentation in securities market was in flood in recent years, the system of information disclosure just as YinGuangXia and Deleoitte_KeLong was willfully distorted which have an adverse effect on investors' confidence greatly, destroying the securities market to develop healthy, and have a poor impact on the base of honest of the market of economic. As the most important checkpoint of quality controlling in information disclosure, Certified Public Accountants(CPA) play an important role that should not be short of. While we are calling the public's trust of there ports of CPA into question, we are also beginning to reconsider the civil liability of the CPA. The new revision"Negotiable securities Law"to the facilitating agency main body scope, responsibility aspect and so on turned over to the responsibility principle, to present evidence has all carried on the consummation. But compares with the developed country correlation law system, this law related provision still revealed insufficient and is short of maybe operational. Therefore, how to establish and protect the system of civil liability in securities information disclosure of CPA is what the writer attempts to do.Having analyzed the new revision"Negotiable Securities Law"and"Supreme People's Court about Tries Stock market False Statement Initiation Civil Compensation Case Certain Stipulations", and Profited from the main typical countries and the areas to the false statement civil liability system legislation and the solid service experience, connected theory of accounting, the auditing and the stipulation of"CPA'S Imitates", collected to"Deloitte_KeLong Gate",the paper is divided into four chapters to analyze the civil liabilities of Certified Public Accountants, and proposed the more reasonable solution.The first chapter of this article mainly turns over to the responsibility principle to charter the nature of CPA's civil liability in false statement. Firstly, there are several viewpoints in foreign countries about the nature of the CPA's civil liability in information disclosure, such as contract liability, tort liability and coincide liability. By contrasting several viewpoints, According to our country fact contract theory and the judicial practice, simultaneously profits from the developed country legal precedent and the theory view point, in order to protect the interests of investors better, the writer thinks it is suitable for determining the nature of the liability as tort liability under the present law system. Secondly, turned over to the responsibility principle, regarding this right infringement responsibility, according to the basic theory of the responsibility principle, combining the responsibility principle and the developed country concrete procedure ,the writer should accept the standard of applying negligence theory for defending the interests of investors powerfully and protecting the legal interests of CPA.Second chapter mainly analysises the constituting elements of CPA'S civil liability in the false statement from the angle of Tort. According to the preceding chapter, CPA'S civil liability will decide as the tortuous liability. While, damage is an important constitution in tortuous liability."No damage, no compensation"which is a cardinal principle of civil law. Because the civil compensation responsibility main function is carrying on to the victim compensates, but non- carrying on the penalty to the illegal activity person. Thereupon, on base of damage compensate constitution: behavior, harm fact, the causal relation between behavior and damage fact, behavior person's mistake, combining the theory of accounting, the writer thinks the constituting elements involve lending the false approval reports, the damages of the investors, the causation between the damages and the false reports, the negligence of CPA.The stock market participation main body type is many. Moreover, the special standard of false statement behavior has the certain difference. between negotiable securities law and tort law . The question of CPA'S civil liability in false statement involves interests of many ways, it is unrealistic to seek for the fair allocation of the right and duty between the CPA and the investors. It is necessary to put the civil liability under the corporation managing structure, realizing the balance of interests among the firm, CPA and investors. Law should regard the enhance of the occupation quality as the main purpose, basing itself upon protecting the interests of the investors, while protecting the interests of CPA, keeping the existing and the value of the accounts' occupation while achieving the aim of the law.In the last chapter, For protecting the benefits of investors and alleviating the civil liabilities of CPA, the writer aims at both entity and procedure to perfect the civil liability of CPA. Some important questions such as the major part of liability, the share of liability and the method of calculation for compensation, etc in civil compensation of CPA. At the end of the thesis, the writer put forward the consideration for establishing the system of civil liability of CPA which is suitable for our national conditions. Generally speaking, the writer thinks from six angles, establishing the system of identifying auditing technique, ,carrying out the liability insurance for CPA, perfecting the model of litigation, Speeding up the law to serve accountant's construction, Establishing CPA'S the professional compensates the fund together and insuring the avoids stipulation of CPA'S civil liabilityThe present paper only has conducted a shallow research to the civil liability of CPA in the negotiable securities. And proposed some stipulation opinions to the consummation of"Negotiable Securities Law"and"CPA'S Law". This mainly puts the blame on myself knowledge, the ability is limited, from now on also will make the further exploration in the theory depth and the operation utilization.