Audits of annual financial statements, legally prescribed audits, ISAE 3402 control reports and reviews

The demands made on the preparation of annual financial statements have been growing steadily in recent years. PwC has consistently and systematically improved the audit of annual financial statements and the processes involved. Because of our integration within the international PwC Network, our audits naturally also comply with international requirements.

We have many years of experience auditing companies in the regulated market – this includes not only the audit of open and closed investment funds, investment corporations and investment limited partnerships in accordance with the German Capital Investment Code (KAGB / Kapitalanlagegesetzbuch) but also the audit of annual financial statements of capital management companies.

Performing valuations of real estate companies in accordance with the German Capital Investment Code are just as much a part of our range of services as taking over internal audit tasks (partial or complete outsourcing). Another focal point of our activities is the audit of real estate companies, project developers and audits pursuant to the German Broker and Property Developer Ordinance (MABV / Makler- und Bauträgerverordnung). Our clients include some of the largest housing companies in Germany.

We have assisted with several initial public offerings in recent years and provided support in an advisory capacity in numerous IFRS conversions (conversion of reporting from HGB to IFRS). International accounting standards such as the International Financial Reporting Standards (IFRS) and US GAAP (US Generally Accepted Accounting Principles) are increasingly growing in importance. Current corporate governance rules and international regulations such as the Sarbanes Oxley Act are changing the style of reporting by companies. In this respect, ISAE 3402 Type II Reports are also becoming more and more significant. In an increasingly partitioned product chain, these reports on establishes control processes serve to assure quality assurance not only for our clients but also their customers.    

PwC Tools support the audit process

Another focal point is industry-wide auditing of business processes. These are analyzed in a structured way. PwC’s experts provide suitable methods and tools for this analysis during an audit. Irrespective of whether businesses use SAP, other standard software, or software they have developed themselves – PWC experts provide a swift and efficient analysis of accounting systems and assess the organizational performance of business processes with regard to adequacy and efficiency.

Great emphasis is placed on quality at PwC – leading to efficient and comprehensive quality assurance. This is audited regularly by an external qualified peer reviewer.

Drawing on its international PwC network, PWC’s experts are able to provide businesses with the best possible support to meet national and international standards. This applies in particular when new standards need to be implemented. In addition, businesses can also rely on PwC when it comes to finding solutions to important issues outside the annual audit.