Legal and voluntary audits

German commercial law requires that annual financial statements of companies exceeding the following size thresholds in two successive calendar years must be audited by an auditor or certified accountant:

- A total balance sheet amount of EURO 4,800,000
- Sales of EURO 9,680,000
- An average of 50 employees over the year

The requirement that annual financial statements must be audited is also stipulated in other regulations, e.g. the Law Governing Cooperatives and the Law on the Publication of Financial Information. Companies required to carry out an audit may not adopt their annual financial statements until they have been audited.

Our services

Our audit is not only carried out at the end of the year in order to comply with national and, where applicable, international accounting rules but also includes close contact with our clients during the year. On these occasions, we discuss major issues with the company as early as possible and investigate the implications for the annual financial statements in order that account can be taken of such aspects in time. Moreover, the results of the interim audit, the principle object of which is to audit internal controls, is carefully evaluated and discussed with the board of management. In this way, any problems that might possibly arise are recognised and solved at an early stage.

We have many years of experience in auditing companies that are integrated into an international group. In the case of such companies, the audit of the annual financial statements not only includes the legally required audit and reporting but also intensive contacts with the foreign parent company as well as its auditors, either in the mother tongue or in English. In this context, we submit our report early on all important issues in order to avoid surprises when the group financial statements are prepared. Our responsibilities obviously also include reporting the results of the interim audit and the audit of the annual financial statements to group management and the group’s auditors.

Our clients receive reliable information for internal and external reporting purposes, based on the annual financial statements we have audited, that contributes to creating trust amongst its providers of capital and serves as a basis for the target-oriented management of their company.

Our skills