Statutory audits

Audits increase as time goes by. (Johann Wolfgang von Goethe)

§ 316 German Commercial Code prescribes the audit of annual financial statements and consolidated financial statements by a chartered accountant for medium and large-sized limited liability companies. Other stipulated audits can be e.g. the inspection of sheltered workshops, audits in accordance with the German Real Estate Agent and Commercial Construction Industry Ordinance or checking the declaration of completeness according to § 10 German Packaging Ordinance (Green Dot).

Nowadays a consolidated financial statement is no longer reserved solely for capital market companies. Many medium-sized companies now have a global presence and have group-like structures that necessitate a consolidated financial statement.

Ever-increasing demands in financial reporting, transparency and risk management, however, mean auditing now goes far beyond mere inspection and establishing the regularity of the annual financial statement.

In order to remain competitive in the future, you require a solid foundation of meaningful company figures. Therefore, at the very forefront of our audit is establishing accounting regularity in statutory audits pursuant to the German Commercial Code and IFRS standards. As part of this audit we also identify potential risks in your company and within your business environment.

By conducting statutory audits of annual and consolidated accounts, not only do we fulfil our audit mandate but we also help you exploit potential improvements in all accounting and fiscal business processes, and offer guidance on restructuring options under tax and corporate law, or provide information on business requirements. The sequence and key areas of the audit are individually adapted to the requirements of your company. Thus in addition to efficient audit services, we can create certain added value for your company.