ASPECTS OF AUDITORS’ PERSONAL LIABILITY IN INSOLVENCY PROCEDURE
ASPECTS OF AUDITORS’ PERSONAL LIABILITY IN INSOLVENCY PROCEDURE

Summary/Abstract: The situation of auditors framed in the insolvency procedure is still atypical and urge analysis, considering the fact that auditors are not members of directory boards or supervising boards of a company; their role is restrained to control the administrator’s activity and the current company management. In our opinion, the auditors may not be included in the category of subject – directory board members and/or supervision, unless the legal provision is interpreted excessively in an extend way. Former legal provisions, as in article 124 Law 64/1995, auditors were nominated expressively as persons against whom liability actions may be introduced. In legal text in force, contemporary with modifications and amendments made in 2006 to the Law 31/1995, those are not stated expressively.

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