Alexander Hellgardt
Max Planck Society
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Publication
Featured researches published by Alexander Hellgardt.
Cambridge Law Journal | 2008
Walter Doralt; Alexander Hellgardt; Klaus J. Hopt; Patrick C. Leyens; Markus Roth; Reinhard Zimmermann
Statutory auditors serve as an integral device to safeguard confidence in European financial markets. The market for corporate auditing is highly concentrated. A collapse of one of the top four auditing firms could cause a severe lack in the availability of auditing services. In a 2007 Staff Working Paper the European Commission proposed to reform auditor liability and to protect auditing firms from catastrophic liability claims. This paper analyses the reform options suggested by the European Commission and pleads, in essence, for the following liability rules: 1. The company and its auditor may enter into an agreement limiting the amount of liability of the auditor in respect of any negligence occurring in the course of the audit, subject to approval by the general meeting of the audited company. 2. This limitation may not be set below a fair and reasonable amount. The definition of fair and reasonable should be laid down in a European framework, providing a set of basic criteria, including the sum of fees paid to the auditor and the size of the company. 3. If the amount of liability significantly deviates from what would be fair and reasonable, the court which decides on a damage claim against the auditor declares the agreement void. 4. In the assessment of the validity of the agreement, the court shall take into account the European framework basic criteria to be considered by the parties and additional factors such as auditor independence and the applicability of institutional and individual insurance excesses.
European Business Organization Law Review | 2012
Walter Doralt; Andreas M. Fleckner; Klaus J. Hopt; Christoph Kumpan; Felix Steffek; Reinhard Zimmermann; Alexander Hellgardt; Susanne Augenhofer
In November 2011, the European Commission published legislative drafts proposing radical reforms for statutory audits in Europe,1 fuelling heated political and academic debates2. This paper presents cornerstones for a new regulatory framework of auditing and thereby contributes to the ongoing debate on the role of auditors and their independence.
Common Market Law Review | 2013
Alexander Hellgardt
Rivista delle società | 2011
Alexander Hellgardt; Susanne Augenhofer; Walter Doralt; Andreas M. Fleckner; Klaus J. Hopt; Christoph Kumpan; Felix Steffek; Reinhard Zimmermann
Archive | 2008
Alexander Hellgardt
Archive | 2008
Harald Baum; Andreas M. Fleckner; Alexander Hellgardt; Markus Roth
Rabels Zeitschrift Fuer Auslaendisches Und Internationales Privatrecht | 2018
Alexander Hellgardt
Rabels Zeitschrift Fuer Auslaendisches Und Internationales Privatrecht | 2018
Alexander Hellgardt
Archive | 2016
Alexander Hellgardt
Archive | 2016
Alexander Hellgardt