The Challenge of
Auditing and Accounting
Medium-sized and large corporations represent legal forms, for which the German Trade Law (HGB – Handelsgesetzbuch) proscribes an annual audit of the financial statements. However also corporations or entities, who are not obliged by law to conduct an annual audit of their financial statements, may still be interested in a voluntary audit.
To this background financial auditors / chartered accountants (Wirtschaftsprüfer) are tasked with reviewing and validating the compliance of their accounting and financial statements with the generally accepted accounting principles (GoB). The auditor´s certificate – which is filed as a result of a positive audit – can give information on the economic and financial situation of the audited company.
However we at Schlecht und Partner do not just solely focus on the verification of the accurate application of the generally accepted accounting principles within the audited financial statements. Moreover we strive to apply the information and insight gathered within the audit process to the benefit of the audited client. As auditors we acquire a comprehensive understanding of our clients going far beyond the information within the financial statements, but rather including business processes, funding and corporate and legal structure.
The audit of our clients represents a key service area of Schlecht und Collegen.
Our Services in the field of Auditing and Accounting:
» Support and Assistance in the transition of the financial reporting system and internal monitoring and risk management system
- Transition of the financial reporting system from German GAAP (HGB) to International Accounting Standards / International Financial Reporting Standards (IAS/IFRS)
- Transition to capital market oriented acconting systems
- Internal Revision / Audit
- Due Diligence in M&A Transactions and IPOs
- Verification / Expert Activities
- Corporate Acquisition and Sales
» Special Issues
- Corporate Valuation in the context of Corporate Acquisitions and Sales, Succession Arrangements, Settlements relating to apportionment of assets, MBOs, squeeze-out
- Contribution of companies or parts of companies against granting of company rights
Our long-standing proven Audit Approach
Schlecht und Collegen are experienced Auditors. Our self-conceiption in the field Audit and Accounting is based on trust, discretion and diligence. Our core services in the field of Audit and Accountign are in the implementation of legally or contractually specified as well as voluntary Audits of single-entity and consolidated financial statements based on German GAAP (HGB), IFRS oder US-GAAP. In Addition we Audit Reporting Packages in the context of the Audit of consolidated financial Statements and conduct Audit Reviews.
In addition to the annual Audit of financial statements there are various other contractual or statutory audits, which require a verification or certification by an Independent third-party. Naturally we assist our clients in Audits in this context.
The understanding of our client and their business represents the starting-pointof our Audit and Accounting services. In this regard we analyse and evaluate the economic and legal environment, the inherent business risks, the internal control Systems as well as the risk Management of our clients. Based on the conclusions gathered in the process we develop a unique and client-specific risk-oriented Audit approach.
Our experiences and proven Audit Teams enable a efficient communication and decision process.