Bookkeeping professions – Errors and omissions insurance

Accountants, bookkeepers and payroll accountants are required to take out errors and omissions insurance with an authorised insurance provider in respect of damages resulting from their activities, and must maintain that insurance for the entire duration of their entitlement to practice that profession.

The minimum insured sum amounts to 72,673 Euro for each individual insured event.

Further information on proof of professional liability insurance for cross-border services can also be found at USP.gv.at.

Further links

• Liability insurance for management consultancy, bookkeeping and information technology (→ WKO)^{German text}
• All types of insurance (→ VVO)^{German text}

Legal basis

Section 10 of the Bilanzbuchhaltungsgesetz