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Bookkeeping professions – Errors and omissions insurance

Caution

In general, these rules also apply to entrepreneurs from EU Member States and EU citizens in Austria.

Accountants, bookkeepers and payroll accountants 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 proof of professional liability insurance for cross-border services can also be found at USP.gv.at.

Further links

Legal basis

Section 10 of the Bilanzbuchhaltungsgesetz

Translated by the European Commission
last update: 18 January 2021

responsible for content: Federal Ministry for Digital and Economic Affairs

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