auditor can assist regulators in carrying out their regulatory and supervisory functions. It also considers how regulators … could implement their supervisory and enforcement tools in addressing the issue of audit liability. …

emphasised. The main objective of this chapter is to illustrate how the external auditor's role could be harnessed more … firms, the role of the external auditor has become so important. …

potentially exposed the external auditor of financial statements; - To determine its practical consequences; and - To contribute … to accomplish a link between the legal knowledge and the audit and accounting traditions. Knowing this subjects would … allow the auditor to be free of responsibility if he has work in accordance with professional standards. This paper deals …

agreement between the company and the auditor. As well as the UK, audit liability caps also currently exist in Austria, Belgium …The past few years have seen a growing trend towards the focus on audit liability. In the UK, the Company Law Reform … Bill which became the Companies Act 2006, has removed the previously existing limits on auditor liability and compelled an …

agreement between the company and the auditor. As well as the UK, audit liability caps also currently exist in Austria, Belgium …The past few years have seen a growing trend towards the focus on audit liability. In the UK, the Company Law Reform … Bill which became the Companies Act 2006, has removed the previously existing limits on auditor liability and compelled an …

errors by deterring their occurrence. The auditor should plan and perform the audit with an attitude of professional … risk assessment, auditor should develop programs to audit procedures by which to obtain reasonable assurance that the … However the auditor faces the risk inevitable that some significant errors to be detected, even if the audit is planned and …

eliminate threats” to the auditor’s independence, as a result of the provision of non audit services, will be considered against …Based on the argument that the benefits conferred through the provision of non audit services by audit firms outweigh … the attributed costs of safeguarding the auditor's independence, this paper will not only seek to justify this argument …

relevance between both recommendations. In drawing attention to the significance of corporate governance, audit committees, and …

This paper considers the responses of six audit firms, to the four options presented by the European Commission in … reforming auditors’ liability. Whilst agreeing with a limitation in audit firms’ liability, it does not consider the means of …. In proposing a means whereby not only a limitation of audit firms’ liability can be achieved, but also one which would …