PKF FASSELT SCHLAGE

Accountants &
business advisers

Auditing

Auditing

Audits and reviews for special purposes

Extensive specialist knowledge

Certificates or confirmations by a qualified auditor are necessary in a number of circumstances. Using their detailed and comprehensive specialist knowledge our experts can carry out appropriate special audits for you.

Audit of additional information in annual financial statements

Company law or regulatory requirements may require the audit of additional information included in the annual financial statements.

Audit of annual financial statements for a special purpose and audit of financial statements

Where financial statements are prepared for a special purpose (and not, for example, under IFRS or the German Commercial Code (HGB)), regulations or company law and in some cases the users of the information increasingly require an assurance report from an audit firm. This could apply for example to net asset statements, accounting and reporting in connection with corporate transactions or loan agreements, tax balance sheets for the fiscal authorities or forecasts in connection with raising finance.
This can also apply to financial statements and/or elements thereof such as a statement of income and expenditure, calculation of operating income by product line, grant applications or net asset verification.
We shall be happy to carry out these reviews for you and issue an appropriate certificate (IDW PS 480 and 490).

Review of pro-forma financial information

One of our core areas of expertise is the review of pro-forma financial information such as, for example, is included in a prospectus. This may be required, for instance, where in advance of a capital market transaction a company has made major acquisitions or carried out other corporate transactions which were not disclosed in the previous year’s financial statements.

Review of completion accounts for transaction purposes

As part of corporate finance activities our specialists carry out reviews of completion accounts prepared in connection with company acquisitions and disposals. These reviews are of significant benefit in that they provide assurances as to the reliability of the figures in the completion accounts which in turn can be crucial in determining the purchase or sale price.

Special audits and reviews required under company law

We carry out audits and reviews as required under company law in connection with reorganisations and reconstructions including:

  • Formation review 
  • Audit of the value of non-cash contributions in connection with company formation or an increase in  capital
  • Audit of the special balance sheet required in connection with the capitalisation of reserves
  • Audit of the suitability of the cash settlement in connection with squeeze-outs
  • Audits and reviews in connection with mergers, demergers, spin-offs and on a change of legal entity
     

Audit in accordance with Art. 53 HGrG

Where a regional corporation or administrative body (e.g. at national/federal, Land/federal state or municipal level) is a major shareholder in a private company the audit of the annual financial statements must be supplemented by a management audit under Art. 53 of the Budgetary Principles Act (HGrG). Such an audit is often also required in the case of other corporations and public sector bodies.

Other special audits and reviews

We carry out in addition a number of other audit and review services.

  • Audits of stockbrokers
  • Audits of financial services providers
  • Audits of security deposit holdings (German Banking Act (KWG))
  • Audits of costing and pricing calculations
  • Prospectus review
  • Audits within the scope of the Packaging Ordinance, for the Duales System Deutschland (DSD) and for similar suppliers
  • Audit in accordance with Real Estate Agent and Building Contractor Ordinance
  • VG-Wort and GEMA audits