Accounting professions - lifting of suspension

General information

The President of the Austrian Federal Economic Chamber will provisionally suspend the exercise of a management accountancy profession under the corresponding conditions.

The competent authority will have to lift the suspension upon request if the grounds for suspension no longer apply. The competent authority has to issue a notice about the suspension.

Deadlines

Suspension must be imposed without delay, but no later than six months after having been informed of any grounds for suspension.

Suspension must be lifted without delay, but no later than six months after the request was filed.

Legal basis

Sections 53German text and 54German text of the Bilanzbuchhaltungsgesetz 2014German text (BiBuG 2014)

Prerequisites

The exercise of a management accountancy profession must be suspended provisionally if the party concerned

  • loses full legal capacity, or
  • is validly indicted on suspicion of  
    • having wilfully committed an offence which is punishable with a custodial penalty of more than three months, or
    • having committed an offence punishable by court of law and involving the subjective element of enrichment [Bereicherungsvorsatz], or
    • having committed a financial offence punishable by court of law, or
  • is remanded in custody on suspicion of any of the offences listed above, or
  • is subject to the opening of valid bankruptcy proceedings or proceedings on composition with creditors, or
  • is subject to the refusal of the request to open bankruptcy proceedings in the probable absence of sufficient resources to cover the costs, or
  • has no errors and omissions insurance policy.

Suspension will not be imposed in cases of valid indictment on suspicion of the punishable offences listed above if appropriate exercise of the profession is not in jeopardy.

Suspension is to be lifted upon request if the grounds for suspension no longer apply.

Responsible department

The President of the Austrian Federal Economic ChamberGerman text [Der Präsident der Wirtschaftskammer Österreich]

PLEASE NOTE Complaints will be decided by the federal administrative court [Landesverwaltungsgericht] in question.

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PSC Vienna
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