Rulebook on Sum Insured for Mandatory Third Party Liability Insurance for Auditing Firms and Authorised Auditors for Damages that Could be Made to a Person Subject of an Audit, (Official Gazette of Montenegro No 60/09 of 8 September 2009)

Pursuant to Article 15 paragraphs 2 and 3 of the Law on Accounting and Auditing (Official Gazette of the Republic of Montenegro No 69/05 and Official Gazette of Montenegro No 80/08) the Ministry of Finance hereby passed the


Rulebook on Sum Insured for Mandatory Third Party Liability Insurance for Auditing Firms and Authorised Auditors for Damages that Could be Made to a Person Subject of an Audit
(Official Gazette of Montenegro No 60/09 of 8 September 2009)


Article 1

This Rulebook governs the sum of mandatory third party liability insurance for auditing firms and authorized auditors for damages that could be made to a person subject of an audit.


Article 2

The sum of the mandatory third party liability insurance for damage that an auditing firm or authorized auditor could cause for carrying out an audit shall be €50,000.00.

Notwithstanding provisions of paragraph 1 of this Article, the sum insured for damages that an auditing firm or authorized auditor could cause by carrying out an audit of large legal entities, banks, pension and investment funds, and insurance companies shall be €150,000.00.


Article 3

This Rulebook shall enter into force on the eighth day following its publication in the Official Gazette of Montenegro.


No: 02-7642
Podgorica, 2 September 2009


Minister of Finance
Igor Lukšić PhD, m.p.