Certified Public Accountants Civil Liability Of The Securities Business Audit Research

With the continuous improvement of securities institution and the further reinforcement of securities custody, the quality of stock market information disclosure is growing better. However, the cases about listed companies conducting false statements for private interest have flowed out to a large extent recently. Accounting firms, as the stock market "economic police", often undertook false audit reports due to the deficiencies of proper occupational cautions or perseverance to professional ethics, so that the interests of investors are greatly injured. And issues about the civil liability of accounting firms become the hot spot both of the theorists and the practitioners. Especially about the standards of civil liability authentication of the accounting firms, the gap between the accounting profession and the legal profession is very large. As the laws and regulations in our state are too general and obscure, it is necessary to conduct in-depth study about the issues related to civil liability of accounting firms in securities audit business.The first chapter began with the information disclosure system in the stock market of our state, to explain the important role of the accounting firm’s securities audit business in the custody of securities market. And then introduced the basic theory about the civil liability of accounting firms in securities audit business, including the emergence and development, content and characteristics of civil liability, as well as the nature for civil liability.The second chapter, by arranging the data announced by China Securities Regulatory Commission from2007to2011about the penalty case of a false statement of accounting firms, analyzed the judicatory practice statement about the third party to assume the civil liability in securities audit business of accounting firms in our state, and pointed out the flaws of securities legislation and judicatory practice.The third chapter discusses the constitutive requirements and the way of bearing responsibility about the accounting firm on the third party civil liability, mainly about the analysis of the discrepancy between the accounting profession and the legal profession, and proposed the author’s recommendations.The fourth chapter explored the importance of establishing the expert liability of Certified Public Accountants in our state, mainly introduced the basic theory of experts liability, the progress of founding the experts liability in our state, as well as the recommendation about forming expert liability insurance of certified public accountants, in order to improve the civil compensation mechanism in securities market of our state.