Review article

https://doi.org/10.30925/zpfsr.39.4.13

CIVIL LIABILITY OF STATUTORY AUDITOR AND MANDATORY INSURANCE OF ITS CIVIL LIABILITY

Dionis Jurić orcid.org/0000-0001-7725-7531 ; University of Rijeka, Law Faculty, Rijeka, Croatia
Loris Belanić ; University of Rijeka, Law Faculty, Rijeka, Croatia

Abstract

Civil liability of statutory auditors toward audited entities and third parties is not harmonized by EU directives. It is regulated by national provisions of Member States (general provisions, special provisions or combined application of these provisions). Croatian Audit Act from 2017 does not contain special provisions on civil liability of statutary auditors. This topic is regulated by general provisions on civil liability of the Civil Obligations Act. The Audit Act envisages mandatory insurance of statutory auditors’ civil liability toward audited entities and third parties and sets the minimum amount of coverage. It also sets general requirements for statutory audits in all audited entities and special requirements for statutory audits in public interest entities. Aim of
these provisions is strengthening of independence and objectivity of statutory auditors towards audited entities.

Keywords

statutory auditor; civil liability; insurance; audited entities; third parties

Hrčak ID:

218358

URI

https://hrcak.srce.hr/218358

Publication date:

28.2.2019.

Article data in other languages: croatian german italian

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