Auditing in accordance with the Financial Investments Agency Ordinance
The Financial Investments Agency Ordinance approved by the upper house of the German parliament on 30.02.2012 imposed many new obligations on financial investments agents. Considerably increased requirements regarding the sale of financial investments now apply, relating above all to comprehensive rules dealing with detailed advice tailored to investors and to obtaining information on the investor, the disclosure of commissions as well as documenting advisory discussions. The new rules also require that financial investment agents and advisers possess certain qualifications that they can obtain either through a test of their knowledge conducted by the chamber of industry and commerce or through an equivalent qualification.
§ 24 of the Ordinance requires that those pursuing a business in the field of financial investments are required to have their business records audited by an auditor/certified accountant or some other suitable and publicly appointed and registered expert. As part of this audit, compliance with the obligations set out in the Ordinance must be audited. The audit report must be submitted to the authority responsible for issuing permits to practice by 31.12 of the following year.
Our services
Due to changes in the law that came into effect on January 1st 2013, a large number of additional regulations must be observed in carrying out the work of a financial investments agent. Important amongst these changes is the requirement that compliance with the new law must be documented. We offer not only the audit of your business records stipulated by law but also comprehensive advice on implementing the most efficient procedures with the aid of which fulfilment of the new obligations instituted by parliament can be ensured. In this way, we can ensure that our clients are able to adjust to the new legislation and spend less time on administrative activities. That means that more time is available for taking care of clients’ interests.
Our skills
