Press Release: Auditors’ liability: Commission publishes independent study on economic impact of current rules

The European Commission has published an independent study on the economic impact of current EU rules on auditors' liability regimes and on insurance conditions in Member States. The study analyses the structure of the auditing market and its possible development in the future, describes the existing limitations in the insurance market for international audits, examines the economic needs for limiting auditors' liability and compares several possible methods for limiting liability. It represents the first EU-wide scale economic study on this subject. The preparation of the study has been accompanied by the creation of an Auditors Liability Forum composed of market experts (see IP/05/1420).