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Auditor in Munich Maxvorstadt

Auditing: A chore or an opportunity?

One might be inclined to consider audits of the (individual and consolidated) annual financial statements annoying legal obligations. They cost money, tie up internal resources in the company and, in many cases, lead to long discussions on accounting issues. Although this perception is well justified per se, in our opinion audits of the (individual and consolidated) annual financial statements provide, above all, an independent view of your business, and allow supervising internal accounting procedures in your business, irrespective of the compliance with statutory provisions. This will help you get a feeling if one of the main pillars of your company, i. e. the accounting and reporting system, works properly.

Meaningful annual financial statements

The individual or consolidated annual financial statements present your business to the main stakeholders, e. g. banks and potential or already existing investors, which is why you should not make any compromise in terms of quality of your individual or consolidated annual financial statements. Audited individual or consolidated financial statements usually prevent you from possible discussions of the quality of the data in the individual/consolidated financial statements, for instance in the event of business transactions or discussions with banks. Our audit approach is largely predefined by statutory and professional regulations which means, in principle, that we conduct our audits just like any other audit firm.

Efficient and personalized audit support

What makes our audit approach different is the fact that the signing auditor is on site during the audit, thus allowing quick decision-making regarding the main issues. Furthermore, we are careful to ensure that the composition of our respective audit team which is responsible for a certain audit client does not change substantially. This will guarantee you that the audit team in charge of your company is mainly composed of the same experienced experts whose view and knowledge of your business is broad and deep, thus avoiding that you have to repeat explaining your main business processes to them each year.

Added value thanks to interdisciplinary expertise

Since we are an interdisciplinary firm, our audit staff also have extensive experience in other areas, e. g. tax advisory services. This enables us to give you useful advice on matters going beyond the audit, where appropriate, such as potential transfer pricing risks or options provided by tax legislation and company law. We inform you about these suggestions along with potentials for improvement identified by us, for example regarding your accounting procedures, within the scope of our management letter.

Fee

We calculate our fees on the basis of the hours presumably needed for the audit of the financial statements and the hourly rates applied by us for audit services. The calculation is done to the best of our knowledge and belief on the basis of the data made available to us. Our philosophy in calculating the fees is that we calculate an all-inclusive price so that you know the amount you have to expect.

Please note

Our long-standing experience in the field of auditing covers a wide variety of sectors.

Although we would, of course, like to offer all auditing services, yet there are certain fields and sectors of auditing which require specific know-how and a certain degree of specialisation. For this reason, we deliberately refrained from including the following areas in our range of services:

Audits in accordance with the German Security Trading Act (WpHG), the German Banking Act (KWG) and the Act on the Supervision of Payment Services (ZAG)
Bank auditing
Insurance auditing
Audits in accordance with the Regulation on Investment Mediation (FinVermV) and the German Capital Investment Code (KAGB)

In case you need auditing services for these areas or sectors, please feel free to contact us nevertheless. We will be happy to put you in contact with our colleagues who are specialised in these fields, and thus, have the relevant professional experience.

Our Services

Statutory and voluntary audits of (individual and consolidated) financial statements in accordance with the German Commercial Code (HGB)
Limited Reviews (Limited Assurance Engagement) of annual financial statements
Audits on the occasion of business formations
Audits in accordance with the German Reorganisation of Companies Act, e. g. audits on the occasion of mergers, demergers and changes of legal form
Audits within the context of German Packaging Act/Duales System (e. g. audits in accordance with VerpackG, formerly: Duales System Deutschland – DSD)
Audits in accordance with German Broker and Property Developer Ordinance (Makler- und Bauträgerverordnung MaBV)
Other special audits, e. g. fraud audits
Preparation of statements of account pursuant to Section 87c para. 2 of the HGB
Examination of statements of account pursuant to Section 87c para. 4 of the HG