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The Civil Liability Of Certified Public Accountants In False Statement By Violating Information Disclosure Obligation Of The Listed Company

Posted on:2015-03-31Degree:MasterType:Thesis
Country:ChinaCandidate:Y N ZhouFull Text:PDF
GTID:2296330467466313Subject:Economic law
Abstract/Summary:PDF Full Text Request
The civil liability of ignoring the obligation of information disclosure to issue falsereports by certified public accountants which injuries the interests of third party has been adifficult problem in the judicial practice. As a gatekeeper, certified public accountants play animportant role in the securities market. The auditing reports issued by certified publicaccountants which are an important reference for investors, making economic decisions.Cause of the identity of independence, the certified public accountant has earned the respectof society.However, as "Joan Minyuan","Yin Guangxia" scandals have been disclosed, thecertified public accountants who faked financial reports have been exposed in the line of sightof the broad masses of investors. The general public and academics begin to think the bearingof legal liability of certified public accountants. Occupational behavior of certified publicaccountants is act of official duty or a expert duty which has a certain independence ofresponsibility, which can be directly liable to a third person. At the same time, how to definethe fault form of certified public accountants, such as "on purpose" and "gross negligence"and "general negligence".Is there a operable specific standards? Certified public accountantsassume legal responsibility on earth is accountant think "process" as the standard or the legalthought of "results" as the standard. This paper will have some problems one by one.This article mainly includes introduction, text and epilogue three parts. The text includesthe following three parts to state:The first part is mainly to clarify basic concepts related to theory. Including define whatis a false statement, and the relationship between false statements on the legal and accountingprofessional term of false report. Introduces the theoretical foundation of the duty ofinformation disclosure system and its legal source at home and abroad, explore the listedcompany information disclosure obligation and the relationship between the false statements.At the same time, we will tease out the development processes of legal responsibility byignoring the obligation of information disclosure to issue false report to bear.The second part mainly discusses the major premise for false statements of certifiedpublic accountants, the listed company’s fraud. And introduce the cause of the fraud of listedcompanies and introduce of theoretical model about the fraud of listed company. Make clearthe relation between the false statement of certified public accountants and fraud of listedcompany. Using the fraud three factors theory of the listed company’s at the same time, combined with the situation of certified public accountants industry, Analysis its own factorfor false statements. Illustrate external pressure for false statements of certified publicaccountants, including internal and external pressure, pressure from management andgovernance of listed companies; Clarify conditions for false statements of certified publicaccountants, including some of the poor audit means, weak legal consciousness, over-relianceon declaration of the audited units and so on. Clarify self rationalization for false statementsof certified public accountants.The third part mainly discusses the current judicial practice, and the obstacles of bearingcivil liability of certified public accountants.First is the confusion of legislation, law andjudicial interpretation for responsibility for certified public accountants. The followingthought is included that is what is the legal responsibility distribution of certified publicaccountants and public accounting firms, and whether CPA shall bear independent legalliability or not and so on. Second what fault form of bearing the legal liability of certifiedpublic accountants.Certified public accountants assume legal responsibility is “process" or"results" oriented. Finally, on how to improve the legal responsibility bearing of certifiedpublic accountants put forward several suggestions. Including unified legislative intent;Refine the fault judgment standard of the form, at the same time set up a special judicialauthentication institutions and improve the system of expert witness; An increase incommunication between accounting profession and legal.
Keywords/Search Tags:The obligation of information disclosure, false statements, certifiedpublic accountants, civil liability
PDF Full Text Request
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