Potential liability of chartered accountants for delaying insolvency proceedings – International Law Office (registration)

Chartered accountants entrusted to draw up financial statements must also examine the company’s status of overindebtedness in terms of insolvency law if its accounts show that it is overloaded with debt. However, in practice, this task is often neglected, as the fact that chartered accountants run the risk of being held liable for damage incurred due to delaying insolvency proceedings is often ignored.

Chartered accountants’ obligation to comment on overindebtedness

Read the full article at: http://www.internationallawoffice.com/Newsletters/Insolvency-Restructuring/Austria/Graf-Pitkowitz/Potential-liability-of-chartered-accountants-for-delaying-insolvency-proceedings