Accountants – Errors and omissions insurance

Those qualified to practice accountancy professions (tax consultants and auditors) 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 professional liability insurance for cross-border services can also be found at USP.gv.at.

Further links

• Chamber of Tax Consultants and Auditors (→ KSW)^{German text}
• All types of insurance (→ VVO)^{German text}

Legal basis

Section 11 of the Wirtschaftstreuhandberufsgesetz (WTBG)