IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/14878.html
   My bibliography  Save this paper

Limiting audit firms’ liability: A step in the right direction? (Proposals for a new audit liability regime in Europe revisited)

Author

Listed:
  • Ojo, Marianne

Abstract

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 limitation, as provided by the European Commission in its Recommendation, to be the best means of limiting auditors’ liability. In proposing a means whereby not only a limitation of audit firms’ liability can be achieved, but also one which would serve as a better means of facilitating harmonisation, the paper makes reference to the variants presented in the author’s paper “Proposals For a New Audit Liability Regime”, namely a combination of the first and third options. Further, the wide scope permitted by the Commission in leaving it to Member States to decide upon the appropriate method for limiting liability and the means of limiting liability, as the paper will seek to illustrate, do not present the best opportunities in realising the goal of harmonisation.

Suggested Citation

  • Ojo, Marianne, 2009. "Limiting audit firms’ liability: A step in the right direction? (Proposals for a new audit liability regime in Europe revisited)," MPRA Paper 14878, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:14878
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/14878/1/MPRA_paper_14878.pdf
    File Function: original version
    Download Restriction: no

    More about this item

    Keywords

    Audit; Liability; Proposals; Europe;

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:14878. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter) or (Rebekah McClure). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.