The law of 18.01.2010 (entered into force on 17.03.2010) enables accountants, auditors and others to practise their profession as a legal person and to enjoy the restriction of the liability which the profession normally involves. After all, because of the choice of a legal person such as a public limited company or a limited company with limited liability, the liability of the directors/business managers is limited.
The liability will only be the legal person’s and no longer the natural person’s who practises the liberal profession.
The following adaptations are, among others, provided in the new law:
- the legal person needs to be represented by a natural person, however, the latter only has disciplinary liability
- if the legal person does no longer fulfil the recognition conditions to practise the profession, it risks an administrative withdrawal.
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