PKF TREUWERK AG Wirtschaftsprüfungsgesellschaft, a joint venture between TREUWERK and PKF Fasselt, utilises the expertise of both partners in highly qualified auditing and consulting services for clients regulated directly and indirectly by BaFin.
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Extensive specialist and industry expertise
We are characterised by our extensive specialist and industry expertise as well as many years of experience and specialisation in auditing and advising companies regulated by the German Federal Financial Supervisory Authority (Bafin). These include, in particular, credit institutions or securities and financial services institutions, but also payment institutions or capital management companies as well as IT outsourcing companies. Our offer is aimed at: CRR credit institutions, specialised credit institutions with sector specialisation or also development/guarantee banks and Pfandbrief banks. Our clients also include the payment sector (payment and e-money institutions, FinTechs), registered or authorised capital management companies, securities and financial services companies (asset managers and securities traders, leasing and factoring companies) as well as insurance companies and outsourcing companies with regulatory relevance, such as IT services.
Customised client support
Particularly when working with medium-sized or specialised institutions, we make targeted use of our strength of highly individualised client support, in which the focus is always on the specific requirements to be applied and implemented. We cover the special requirements for annual financial statements and accounting for BaFin-regulated companies just as precisely as the regulatory requirements and their constant innovations, for example:
- New or amended national and international accounting regulations and additional regulatory reporting requirements/stress tests against the backdrop of changing political and economic conditions
- Requirements for a targeted risk management system (governance, risk and compliance - GRC) that is closely aligned with the institution's actual business processes
- Requirements for sustainable finance ("sustainable finance")
- Compliance regulations are being brought closer together and standardised at both national and European level. Examples of this include the EU Money Laundering Directives and the implementation of the EU Whistleblower Directive to enable stronger whistleblower protection in Germany
- New asset classes and target clients in asset management and for capital management companies, e.g. digital assets
- New regulations and new market participants in payment transactions, ranging from internet and technology groups to FinTechs
- IT supervision is constantly evolving and requirements for regulated companies are being concretised from the European requirements, for example in the BAIT/ZAIT/VAIT/KAIT.
Our industry-specific services
Audit
- Audit of annual and quarterly financial statements (HGB, IFRS), taking into account the industry-specific accounting standards applicable to an institution (e.g. RechKredV, RechZahlV, etc.)
- Auditor reviews
- Audits in accordance with the German Securities Trading Act (WpHG)
- Audits of the internal control system at the service company for functions outsourced to the (IT) service company in accordance with IDW PS 951/ISAE 3402
- Conducting special audits on behalf of the Federal Financial Supervisory Authority for credit, financial services/securities and payment institutions (cover audits or audits in the areas of lending business, money laundering prevention, risk management, business organisation, etc. in accordance with § 44 KWG)
- Assumption of internal auditing as partial or full outsourcing or on a case-by-case basis. Both for supervised institutions and for outsourcing service providers of supervised institutions (e.g. in the area of software development or IT operations)
- Audits of compliance or risk management systems in accordance with IDW PS 980 and IDW PS 981
Advice and projects
- Design of an appropriate and proportional compliance and risk management system, which is an essential part of the proper business organisation in accordance with § 25a KWG, § 40 et seq. WpIG and § 27 ZAG
- Impairment testing of collateral
- Analysing the internal control system in relation to trading, credit and risk management processes
- Support in the area of money laundering prevention and securities compliance
- Advice and support in regulatory reporting
- Implementation and advice on data protection, IT governance and information security
- Advice on the fulfilment of regulatory requirements in outsourcing cases (EBA/GL/2019/02, MaRisk)
- Support in conducting special forensic investigations
- Support in preparing for statutory audits and special audits and assistance during the entire audit process
- Corporate law, reorganisation law, state aid law, civil and contract law, criminal tax law, insolvency law, labour law, payment transaction law
- Tax advice, e.g. preparation of tax returns, support and assistance with external tax audits, tax structuring advice, introduction, support and preparation of e-balance sheets, advice on payroll tax and VAT matters, corporate and group taxes in Germany and abroad,
- Corporate finance, e.g. company valuation, fairness opinions, purchase price allocation, support for portfolio transactions and carve-outs, restructuring and reorganisation