Originally published in
Brussels To The Point e-Newsletter – June 2011
Auditors are increasingly involved, in various ways, in the
running of companies. Four types of activities can be
distinguished: (i) general statutory duties entrusted to auditors
by law (e.g. the duty to audit corporate financial statements and
issue an opinion on the fairness and accuracy of these statement);
(ii) specific statutory duties; (iii) contractual duties (assumed
through agreements with clients); and (iv) judicial assignments
(e.g. when the auditor serves as a court-appointed expert or
manager of a distressed company). This article describes some
current trends in the area of auditors' liability which we have
observed in our practice.
