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

Authors

  • Dionis Jurić Faculty of Law University of Rijeka, Croatia
  • Loris Belanić Faculty of Law University of Rijeka, Croatia

DOI:

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

Keywords:

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

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.

Additional Files

Published

2020-10-20

How to Cite

Jurić, D., & Belanić, L. (2020). CIVIL LIABILITY OF STATUTORY AUDITOR AND MANDATORY INSURANCE OF ITS CIVIL LIABILITY. Collected Papers of the Law Faculty of the University of Rijeka, 39(4), 1823–1847. https://doi.org/10.30925/zpfsr.39.4.13

Issue

Vol. 39 No. 4 (2018): Collected papers of the Law Faculty of the University of Rijeka

Section

ARTICLES

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