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A Study Of China's Civil Liability For Certified Public Accountants Auditors

Posted on:2010-10-30Degree:MasterType:Thesis
Country:ChinaCandidate:J ChengFull Text:PDF
GTID:2166360275482243Subject:Law
Abstract/Summary:PDF Full Text Request
Civil liability for certified public accountants audit the problem is the logic of tort law and public policy co-ordination between the options is a risk of capital markets are fair and reasonable allocation.Define the scope of a third person is involved in a public accounting firm and an important investor protection issues. This is based on not only to protect the healthy development of the market and the legitimate rights and interests of investors, but also for the healthy development of the accounting profession to provide space. Reasonable reliance or use by accounting firm issued false reports, and audited units or engage in transactions with the audit units of stocks, bonds and other transactions related to the loss suffered by natural persons, legal persons or other organizations, should be identified as a registered Accountants third law. Responsibility for accountability and auditing are two different types of civil liability,Provide audited financial accounting reports false civil liability, the responsibility of certified public accountants are not a substitute for the audit, the audit was to reduce or waive the responsibility of the accounting unit. Recognize the legal status of auditing standards. Have to comply with practice guidelines, rules and procedures established to maintain the necessary professional care, but have not yet been able to detect the audited accounting data errors, do not bear civil liability. Accounting firms in auditing the activities of foreign issued false reports of damage to the parties shall bear tort liability, but it can prove that there is no fault except their own. Accounting firm in proving there is no fault of their own, they can submit to the people's court cases related to the practice of the norms, rules and audit working papers and so on.Audited units collusion with the accounting firm audit, leading to a common intentional false report, accounting firms should be audited units are jointly and severally liable. Certified public accountant for failure to exercise due professional care because of negligence and false report issued, the accounting firm and its commitment to adapt to the added fault liability.
Keywords/Search Tags:Institute of Certified Public Accountants, audit, civil liability
PDF Full Text Request
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