About the contractual responsibility of the external auditor of financial statements

Abstract

This paper has the following aims: - To display the nature of the contractual civil responsibility to wich is potentially exposed the external auditor of financial statements; - To determine its practical consequences; and - To contribute to accomplish a link between the legal knowledge and the audit and accounting traditions. Knowing this subjects would allow the auditor to be free of responsibility if he has work in accordance with professional standards. This paper deals with this problem analyzing the contractual and obligational level. In fact, identifying the precise contract and the nature of the bonds it creates is and inescapable way to fulfill the aims announced.Audit; Responsibility; Contractual Responsibility; Financial Statements; Law; Audit Contract