Brussels suggests legal shield for big audit firms

The European Commission has launched a public consultation, January 2007, on whether there is a need to reform rules on auditors’ liability in the EU and on the possible ways forward. This follows an independent study on the economic impact of current auditors' liability regimes and on insurance conditions in Member States (IP/06/1307). The Commission presents four possible options for reforming auditors' liability regimes in the EU and invites stakeholders to give their views on the issues involved by 15 March 2007.

European Commission: Press Release: IP/07/60: Auditors' liability: Commission consults on possible reform of liability rules in the EU http://europa.eu/rapid/pressReleasesAction.do?reference=IP/07/60&format=HTML&aged=0&language=EN&guiLanguage=en

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