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The introduction of the International Financial Reporting Standards (IFRS) for all stock exchange-listed companies throughout the EU as of 1.1.2005, is a reaction to the growing worldwide trend towards companies preparing their annual accounts according to the regula-
tions of the IFRS. The accounting and evaluation standards of the HGB are characterized by the dividend assessment function as well as creditor protection, while according to IFRS the focus is on the information function. The voluntary application of the IFRS can be advantageous for many medium-sized companies, e.g. with a view to bank ratings according to Basel II. Annual accounts prepared according to the regulations of the IFRS offer different scope for the evalu-
ation of assets compared to annual accounts according to the HGB and frequently to a higher equity capital figure. Our range of services is oriented towards creating advantages and improved financing prerequisites for medium-sized companies through the application of the IFRS.
We accompany and support our clients in the preparation of individual and group
accounts in accordance with IFRS. On request, we play an active part in preparing the annual accounts, provide support by handling partial tasks or assist with our specialist knowledge. Our employees have sound specialist knowledge in the area of preparation of annual accounts, for example, in the area of the first consolidation of individual accounts in accordance with
IFRS 3.
In addition, we advise our clients on the reorganization of the basis of accounting from HGB to IFRS or, on request, handle the project management. During the reorganization process we support our clients, among other things, in the preparation of accounting manuals and reporting guidelines. Following successful implementation of the international accounting we continue to provide support - also under the aspect of the change dynamics of IFRS - for the interpretation of accounting questions and the assessment of the facts with our know-how.
A further focal point of our activity is the auditing of individual and consolidated accounts according to IFRS. Our clients benefit from our long-standing experience in the auditing of companies in all kinds of sector, legal forms and sizes. Our auditing activity thereby covers all kinds of statutory and voluntary audits of annual accounts according to IFRS as well as audit-related services.
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