会计师事务所虚假陈述民事责任因果关系认定的困境与制度回应  

The Dilemma and Institutional Response to the Causal Relationship of Civil Liability for Misrepresentation of A ccounting Firms

作　　者：蒋辉宇[1] 杲燕林 JIANG Hui-yu;GAO Yan-lin(Law School,Anhui University of Finance and Economnics,Bengbu Anhui 233041,China)

机构地区：[1]安徽财经大学法学院,安徽蚌埠233041

出　　处：《太原理工大学学报（社会科学版）》2023年第3期64-72,共9页Journal of Taiyuan University of Technology(Social Science Edition)

基　　金：国家社会科学基金一般项目“注册制全面推行背景下我国资本市场法律制度完善研究”(21BFX120)。

摘　　要：会计师事务所未保持应有的职业谨慎,因其鉴证文件存在虚假陈述给投资者造成损失的,应承担法律责任,厘清责任承担的关键在于认定交易因果关系与损失因果关系。根据我国证券市场实际情况,在认定交易因果关系时,我国应确立“存在有效市场”为“推定信赖”原则适用的前提,并于法律制度中引入“理性投资者概念”,规定“推定信赖”原则的适用对象为“理性投资者”;认定披露信息“重大性”时,应增设“理性投资者标准”作为补充,以弥补现行规定应对证券市场“价格失灵”时的不足;同时应确立审计准则作为判断信息“真实性”与“重大性”标准的法律地位,降低会计师事务所执业法律风险;且应建立对于“阻碍损失因果关系成立因素”的统一证明标准并采取统一指数计算市场风险。If an accounting firm fails to maintain due professional prudence and causes losses to investors due to false statements in its assurance documents,it shall bear legal liabilites.The key to clarify the responsibility is to identify the transaction causality and loss causality.According to the actual situation of China's securities market,when determining the transaction causality,China should establish"the existence of an efective market"as the premise for the application of the principle of"constructive trust",introduce the concept of“rational investor”into the legal system,and stipulate that the applicable object of the principle of“constructive trust”is“rational investor”;when determining the“significance”of the disclosed information,the“rational investor standard”should be added as a supplement to make up for the deficiency of the current provisions in dealing with the“price failure”of the securities market;at the same time,we should establish the legal status of auditing standards as the standard to judge the“authenticity”and“materiality”of information,so as to reduce the legal risk of accounting firms;in addition,a unified proof standard for"factors impeding the establishment of loss causality"shall be established and a unified index shall be adopted to caleulate the market risk.

关 键 词：会计师事务所 虚假陈述 因果关系认定 真实性 重大性 理性投资人 

分 类 号：D923[政治法律—民商法学]