Article 5. Persons whose civil liability is subject to compulsory insurance The Law on Compulsory Insurance of Civil Liability of Audit Organizations

Home / RLA / Article 5. Persons whose civil liability is subject to compulsory insurance The Law on Compulsory Insurance of Civil Liability of Audit Organizations

1. Compulsory insurance is subject to the civil liability of audit organizations that have obtained an audit license in accordance with the procedure established by the legislation of the Republic of Kazakhstan.

2. The conclusion by an auditing organization of a voluntary insurance contract for its civil liability related to the exercise of professional activity does not release it from the obligation to conclude a compulsory liability insurance contract for auditing organizations.

The Law of the Republic of Kazakhstan dated June 13, 2003 No. 440.

This Law regulates public relations arising in connection with compulsory insurance of civil liability of audit organizations, and establishes the legal, economic and organizational basis for its implementation.

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Republic of Kazakhstan

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