availability of auditing services. In a 2007 Staff Working Paper the European Commission proposed to reform auditor liability and … to protect auditing firms from catastrophic liability claims. This paper analyses the reform options suggested by the … European Commission and pleads, in essence, for the following liability rules:1. The company and its auditor may enter into an …

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 …

' exposure to liability risk. This enhanced risk and its negative implications have resulted in an international trend intended … to limit auditors' liability. Currently, auditor liability is limited in approximately thirty-three countries. Liability …; adopting a proportionate liability rule; and permitting association of accountants in a limited liability corporation. Eleven …