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Research On Joint And Several Liability Of Securities Auditors

Posted on:2021-02-27Degree:MasterType:Thesis
Country:ChinaCandidate:L Y LiuFull Text:PDF
GTID:2416330647454113Subject:Law and finance
Abstract/Summary:PDF Full Text Request
Securities auditors who enjoy the reputation of "economic police" play an important role in the securities market.They are a necessary condition for the formation of "openness,fairness,and justice" in the securities market,and are an indispensable part of the entire securities market supervision system.However,as cases of failed audits in the securities market were continuously discovered,the long-hidden companies such as Kangdexin,Kangmei Pharmaceutical,Great Wisdom,Jiuhao Group,Greenland and Wanfushengke were exposed to the sun.As a result,the public's trust in securities auditors has gradually decreased.Although auditors who fail to perform their duties diligently and exercise prudential supervision in the event of financial fraud will be subject to administrative penalties,they rarely bear the corresponding civil compensation liability.With the increased awareness of lawsuits and rights protection of damaged stockholders and the tracking reports of media organizations,people have begun to focus more and more on the securities auditors behind the company.While listed companies disclose false information,the securities auditors failed to fulfill their due diligence and reasonable due diligence obligations.The legal liability of the latter is not only a theoretical issue but also a prominent issue in judicial practice.This article uses a combination of theoretical analysis and case analysis,and uses the relevant knowledge of law and accounting to explore the joint liability issues that China's securities auditors should fail in auditing.This article contains the following:Part ?: Analysis of the status quo of the responsibility of securities auditors.Firstly,this chapter defines the concept of securities auditors and clarifies their main tasks and significance in the securities market.Secondly,this chapter analyzes the current situation of "heavier administrative punishment and less civil liability" in China from three perspectives: administrative punishment,criminal responsibility and civil liability.Finally,this chapter points out that the existence of pre-procedures in civil proceedings and other conditions may become an obstacle to the determination of civil liability.Part ?: The source and boundary of the civil liability of the securities auditor.Firstly,in the securities law and judicial interpretation,there are provisions on the civil liability of securities auditors.Secondly,the CPA Law stipulates the basic code of conduct for securities auditors,and proposes that auditors should bear civil liability for losses caused to stakeholders.Finally,by discussing the advantages and disadvantages of audit standards,the article points out that audit standards as a departmental law in judicial practice Applicable questions.Part ?: Analysis of the elements of joint and several liability.Firstly,this chapter starts from the subjective intention and discusses the most obscure issues of the current legal provisions in the constituent elements of the tort liability of securities auditors.Then,starting from the causality,the dichotomy theory is used to divide the causality into fact and law.Finally,a comparative analysis of the regulations on the scope of third parties at home and abroad was made,and suggestions were made to narrow the scope of third parties in each case.Part ?: Based on the theoretical analysis of the previous three chapters,this chapter explores the problems that auditors may face joint and several liability in the case of great wisdom.First,this chapter introduces the basic background of the Great Wisdom case,and then analyzes the company's fraud and the specific reasons for the auditor's audit failure one by one,and finally combines the main dispute points of the case to reveal what needs to be resolved in the current judicial practice.Part ?: Improvement of the civil liability system of securities auditors.By reviewing the previous article,combining the existing laws of our country and the problems in judicial practice,this chapter gives some suggestions for the inadequacy of the provisions of the current law and the complex issues in judicial practice,hoping to provide some solutions to the joint liability of securities auditors help.
Keywords/Search Tags:Securities auditor, False report, Joint and several liability, Presumption of fault
PDF Full Text Request
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