National and international accounting practices are extremely complex and subject to continuous change. Lawmakers have responded to the increasing susceptibility to errors of external financial reporting by introducing stricter auditing and financial controls. Enforcement pressure on businesses is requiring them to perform an unprecedented balancing act to ensure that accounting policy interests are observed and accounting standards are properly applied.
We can offer clients individual support by including lawyers, auditors and university professors in our teams of proven experts in external financial reporting.
Ongoing Assistance with Preparing Financial Statements
We assist our clients by resolving individual questions, optimizing internal accounting directives, and conducting in-house training courses. In addition, we provide backup services as required and serve as a sparring partner. While maintaining an appropriate distance from actual auditing procedures in an individual case, we can draw clients’ attention to alternative approaches without implicitly preempting their decisions.
Introducing New Accounting Standards
We have many years’ experience in introducing and embedding new accounting standards. Organizations that apply IRFS have needed to revise their policies increasingly frequently in recent years because of extensive changes to the regulations, but they are not the only ones. In view of reforms such as the German Accounting Directive Implementation Act, entities that prepare accounts in compliance with the German Commercial Code must likewise identify and apply the relevant accounting and disclosure outcomes.
The advice we provide in the field of tax accounting spans a broad range. Our services include assessing the recoverability of deferred tax assets, reviewing tax items in the context of preparing financial statements, analyzing group tax ratios, introducing a group-wide internal control system for tax purposes, and supervising the introduction of tax tools.
Review, Litigation and Enforcement
Some matters can be difficult to assign clearly to a specific accounting standard. In many such cases, opinions vary. We enable our clients to assert their accounting policy interests while complying with the relevant regulations. Our work can extend from producing a second opinion that questions an auditor’s findings to representation in judicial proceedings. Our team of experts can also draw on extensive experience of overseeing a host of enforcement proceedings.
Transactions can exert a substantial influence on financial reporting. To a growing extent, the consequences of transactions have to be analyzed in advance to achieve accounting policy aims. We help our clients to preserve their accounting policy interests through the appropriate structuring of transactions. In this context we benefit in particular from the interdisciplinary collaboration between legal and economic experts that sets our firm apart.
Valuations for Accounting Purposes
The significance of market and fair values in accounting has increased substantially in recent years. We assist our clients with purchase price allocations, measuring intangible assets and impairment tests in compliance with national and international principles.