Auditing

Auditing - Which companies are required to be audited?

Medium-sized and large companies must have their annual financial statements audited. These include corporations (GmbHs, stock corporations), general partnerships and limited partnerships in which no natural person is a personally liable partner.

An audit obligation exists whenever a corporation or GmbH & Co KG (§ 264a HGB) exceeds the limits of § 267 HGB on a sustained basis (twice in succession). For this purpose, the year of formation is already subject to audit if the company directly exceeds the thresholds. Irrespective of a statutory audit requirement, there are numerous reasons for a voluntary audit of annual financial statements, e.g. on the basis of provisions in the articles of incorporation and bylaws or to increase the reliability of the financial statements. 

By when must annual financial statements be prepared?

Small corporations have a preparation deadline of six months. They must have prepared their annual financial statements by June 30 of the following year. Medium-sized and large companies have three months after the end of the fiscal year.

Annual audits create added value 

Auditing is more than just an opinion on the annual financial statements. Regardless of whether it is a statutory or voluntary audit of annual financial statements or consolidated financial statements, or special auditing services and certificates: Objective judgments by external auditors increase the reliability and resilience of information. This is the prerequisite for successfully managing a company and making well-founded decisions. Based on the results of the audit, our audit teams prepare proposals for solutions in the areas of accounting, controlling, taxes or other economically relevant areas as part of audit-related consulting.