Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020)

Audit Responsibility as a Specific Type of Legal Responsibility

Authors
N Kim
Corresponding Author
N Kim
Available Online 17 March 2020.
DOI
https://doi.org/10.2991/aebmr.k.200312.007How to use a DOI?
Abstract
Most of the theoretical and methodological problems of audit are related to the unresolved legal aspects, in particular, the specifics of audit responsibility. The issue of legal responsibility is well developed in the legal and economic literature, but there is no General understanding of the specifics of audit responsibility. The purpose of this article is to determine the grounds and problems of implementation of the legal responsibility of the auditor. Legal responsibility implies the existence of guilt, if we are talking about a concrete infringement. The article substantiates that the requirement of mandatory guilt as a result of the auditor’s specific offense unreasonably narrows the range of application of audit responsibility. On the basis of the General theoretical (philosophical) method and specifically applied research methods, the author proposes to identify not only legal but also moral grounds for audit responsibility, which arise in connection with the abuse of law (“black audit”), which is considered by law as an act, socially harmful and illegal, but not always punishable. The author’s conclusion is that the basis of audit responsibility, as a specific type of legal responsibility, is the fact that it should occur both for offenses and in their absence, subject to harm in connection with a non-specific offense, and in connection with the delay, late acceptance and inefficiency of audit recommendations, erroneous audit opinion, abuse of law. All these grounds together can cause huge damage to both the state and other economic entities and individuals.
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Proceedings
International Scientific Conference "Far East Con" (ISCFEC 2020)
Part of series
Advances in Economics, Business and Management Research
Publication Date
17 March 2020
ISBN
978-94-6252-929-8
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.200312.007How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - N Kim
PY  - 2020
DA  - 2020/03/17
TI  - Audit Responsibility as a Specific Type of Legal Responsibility
BT  - International Scientific Conference "Far East Con" (ISCFEC 2020)
PB  - Atlantis Press
SP  - 41
EP  - 51
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200312.007
DO  - https://doi.org/10.2991/aebmr.k.200312.007
ID  - Kim2020
ER  -