Research On Typrs Of Accounting Firms Tort Liability In Securities Misrepresentation

Under the registration system,there are more and more cases involving misrepresentation of securities by accounting firms,which has led to more and more attention to the inconsistency of joint and several liability system in judicial practice.There are disputes between joint and several liability and supplementary liability,and there are different types of liability such as bifurcation of joint and several liability,and bifurcation of joint and several liability.The core of the bifurcation method is to distinguish the types of liability based on the subjective fault of the accounting firm.Therefore,the focus of research in academic and practical circles has shifted from whether accounting firms should be liable to what types of liability accounting firms should bear.First,it is necessary to affirm that joint liability is a reasonable type of liability for accounting firms in securities misrepresentation;second,in order to reasonably allocate Second,in order to reasonably allocate the liability of accounting firms,a differential liability system should be implemented,i.e.when the accounting firm is intentional,it should be jointly and severally liable for the losses caused to investors by the misrepresentation,while when the accounting firm is negligent,it should bear the corresponding liability according to the magnitude of its negligence;when the accounting firm is grossly negligent,it should bear proportional joint and several liability,while when it is generally negligent in its auditing practice,it should bear supplementary liability.When the accounting firm is grossly negligent,it shall bear proportional joint and several liability;and when it belongs to the general audit practice,it shall bear supplementary liability.Finally,the scope of joint and several liability is determined by the subjective intent and objective inaccurate reporting of the accounting firm,the degree of fault is judged by the duty of care,and the proportion of joint liability is determined by considering fault and causative power.