TL;DRAbstract
CPA's civil liability for false financial statements has been a difficult and hot spot in theoretical and practical realm. Judicial interpretation 〔2007〕12 by Supreme People's Court gives a resolution to the relevant disputations. This interpretation is valuable while imperfect because it pays more attention to CPA's professional benefits than to public interests. Actually, in our national negotiable securities legislation, value orientation must be consolidated on the protection of investors' benefits, namely, investors can obtain maximum relief when they suffer loss.
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CPA's civil liability for false financial statements has been a difficult and hot spot in theoretical and practical realm. Judicial interpretation 〔2007〕12 by Supreme People's Court gives a resolution to the relevant disputations. This interpretation is valuable while imperfect because it pays more attention to CPA's professional benefits than to public interests. Actually, in our national negotiable securities legislation, value orientation must be consolidated on the protection of investors' benefits, namely, investors can obtain maximum relief when they suffer loss.
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