论会计师事务所不实财务报告的民事责任——兼评上海大智慧公司与曹建荣等证券虚假陈述责任纠纷案

会计师事务所执业过错的认定标准为“职业谨慎”,法律上的“重大性”认定依据主要是信息对决策的影响力和信息对股价的影响力。法院在民事赔偿案件中应该独立对“重大性”进行实质审查。损害因果关系的认定应肯定公司经营风险、行业风险和投资风险等作为阻碍损害因果关系的因素。在计算系统风险时,原则上宜优先选取板块指数为参考数据,计算方式采用分别认定市场风险的相对比值法。责任方式采取有限制条件的连带责任,对第三人的具体赔偿范围由法院综合考量各方因素裁定。

On Civil Liability of Accounting Firm for False Financial Report:Comment on Security Misrepresentation Case of Shanghai Dazhihui Company v.Cao Jianrong et al.

The standard for determining the fault of an accounting firm is"professional standard of care".The legal"materiality"is based on the influence of information on decision-making and the influence of information on stock prices.The court should independently conduct a substantive examination of"materiality"in civil compensation cases.The company's operational risk,industry risk and investment risk should be considered as factors that hinder the damage causal relationship.In calculating the system risk,in principle,the sector index should be selected as the reference data.The system risk of securities market should be calculated separately for each investor in relative ratio method.The joint liability of the accounting firm shall be limited to a reasonable range.The specific amount of compensation shall be determined by the court in consideration of various factors.