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Special provisions apply to certain acts defined in the Criminal Code with regard to the criminal liability of executives.
In the primary addressee of the obligations defined in the administrative norm further specifying the code definition and therefore also the statutory criminal law definition of the acts of budget fraud, breach of accounting regulations, concealment of assets for avoiding liability, impairment of own capital, unauthorized foreign trade activities and failure to comply with the obligation to supply economic data is the manager of the business organization.
According to the Criminal Code, the manager of the business organization or its member authorized to control or supervise the business organization is not only liable for his own behaviour but also for the acts of the persons under his management and control.
For the comprehensive fulfilment of the supervision and control obligation and thereby for the moderation of the risks of executive liability it is essential that the liable manager continuously has a true and fair view of the company’s activity and business operation. This can be ensured primarily by making economic processes transparent, continuously monitoring information, developing basic guarantees for compliant operation, identifying the obligations of the persons carrying out partial tasks and by developing and putting in place of a control system.
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