Audit of Annual Accounts

Audits of financial statements according to German and international standards

The core of our auditing activities is the audit of annual and consolidated financial statements as well as the review of annual and interim financial statements. We perform audits of financial statements and other audit-related services such as audits based on the German (IDW PS) and international auditing standards (ISA) for companies of various legal forms and industries.

This is what you can expect from us

The Client’s business is the focus of our audit. This includes his field of activity as well as his organization and its environment. The audit strategy derived specifically from this is based on the risk-oriented audit approach.

We assess whether the financial statements to be audited comply with the relevant regulations and give a true and fair view of the net assets, financial position and results of operations.

Audit Procedures

With the integrity, independence and competence that you as our client as well as other stakeholders can expect from us, we make a relevant contribution to ensuring that your financial information is considered trustworthy.

Audit planning and key aspects

We prepare the audit plan after an initial discussion with the legal representatives or the Company and after reviewing the respective financial data. Our audit strategy contains the following steps:

preliminary check with risk assessment, functional tests and an IT check,
discussion of special issues for the annual financial statements,
development of an audit strategy with a focus on the main audit issues based on critical audit criteria,
participation in the company’s stocktake, if the material is required for its financial statements,
for consolidated financial statements: the audit of the scope of consolidation and consolidation measures.

The focus points of the main audit may be, for example, the following accounting questions:

revenue recognition
complete recording of expenses for the past financial year
completeness and valuation of the provisions

During and at the end of our audit, we present the main findings to our clients and/or the respective supervisory instances.

In addition to the statutory audit, our range of services naturally also includes admissible advice on all questions of commercial and tax accounting.

Accurate audit planning ensures transparency, especially during first time audits, and ensures efficient execution.

Examination of associations and public sector companies

In addition to mandatory and voluntary audits for corporations and business partnerships, we also conduct audits and audit reviews for other legal forms such as associations (Vereine).

A further focus of our auditing activities is on companies owned by the public sector, which generally require extended auditing procedures, e. g. in accordance with § 53 HGrG.

Additional audit services

Our audit services also include the review of annual and interim financial statements, agreed-upon audit procedures, statutory special audits and audit-related services: