One of the requirements for tort under Austrian law is a certain nexus between action and damage. In a recent decision, the Austrian Supreme Court (OGH) relaxed this prerequisite. It held that an qualified auditors opinion does not need to directly cause damages to investors. Where such qualified auditors opinion is wrong and hence increases the risks for investors, such increase alone can already make the auditor liable for damage caused to an investor. (8Ob93/14f)
Pin it on the auditor!
