Contractual Limitations on the Auditor's Liability
An Uneasy Combination of Law and Accounting
Bibliographic Data
| ID | 9197478 |
|---|---|
| Authors | Peter E Morris (United Nations, corresponding author) |
| Year | 2009 |
| Volume | 72 |
| Issue | 4 |
| Pages | 607-627 |
| Publication date | 2009-07-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Modern Law Review (JOURNAL) |
| Journal identifiers | ISSN: 0026-7961 • E-ISSN: 1468-2230 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-2230.2009.00759.x |
| OpenAlex | W2085564381 |
| Language | EN |
| Citations received | 1 |
Operative as from 6 April 2008, sections 532–538 of the Companies Act 2006 create a new liability limitation regime in contractual relationships between audit firms and companies in relation to the statutory audit function which overturns an almost eighty years old fundamental principle of company law. This new regime is the product of continuing pressure by the audit profession for liability reform and concern by Government regarding the market structure for audit services. This commentary critically evaluates the regime from law and accounting perspectives. It concludes by reflecting on its longer term implications for audit quality, perceptions of the audit profession and the evolution of a future research agenda
Audit · Auditor independence · Business · Government (linguistics) · Internal audit · Joint audit · Liability · Political science · Statutory law · Accounting · Auditing, Earnings Management, Governance · Corporate Insolvency and Governance · Law · Risk Management in Financial Firms
| Citations per year | 0.5 |
|---|---|
| Citation span | 2024 - 2024 (1) |
| Highly cited | No |