Other Audit and Advisory Services

Audits Pursuant to the Renewable Energy Sources Act and Combined Heat and Power Act

Subject to certain conditions, companies with high electricity costs can qualify for the special equalization scheme pursuant to Sec. 63 et seq. of the German Renewable Energy Sources Act. The success of an application depends on the presentation of a certificate issued by a public auditor or professionally registered chartered accountant and based on the audited financial statements, prepared in compliance with the Commercial Code, for the last three financial years. Thanks to our expertise and experience in the energy sector, we are well equipped to perform such audits in compliance with IDW Standard PS 970. We also certify the ratio of electricity costs to sales revenues so that companies operating a cogeneration plant can obtain compensation through a redistribution of the economic costs according to Sec. 9 of the German Combined Heat and Power Act.

Audit of Applications for Electricity Price Compensation

To reduce their indirect electricity costs, companies can apply to the German Emissions Trading Authority for grants for indirect CO2 costs. The application must contain a certificate issued by an auditor verifying the factual information. We have the necessary expertise in both the energy sector and energy law to perform audits in compliance with the guidance published by the Emissions Trading Authority.

Compliance Management Systems Pursuant to IDW Standard AsS 980

The value of an enterprise is largely determined by its reputation and the trust placed in the business by stakeholders, customers and equity providers. We help companies to maintain a strong reputation by introducing or auditing compliance management systems (CMS) on their behalf. Our solutions are tailored to the size and complexity of the business model. We also produce an individual risk profile as a starting point for our work. We take charge of identifying fraud and compliance risks, defining a customized concept, and supporting the implementation of an appropriate CMS. Apart from drawing on the substantial expertise of our interdisciplinary teams, we refer to best practices and incorporate current developments, laws and conventions in Germany and abroad. If you already run an established compliance management system and wish to demonstrate its effectiveness to internal and external stakeholders, such as supervisory bodies, customers or suppliers, you can ask us to perform an external audit. We conduct audits of compliance management systems according to the provisions of IDW Standard AsS 980: Principles for the Proper Performance of Reasonable Assurance Engagements Relating to Compliance Management Systems.

Introducing and Auditing Risk Management Systems

Up-to-date awareness of the company’s exposure to risk and the existence of transparent risk control measures are essential ingredients of successful business management. In this context, it is crucial that risk management is integrated into the overarching business management system.

Our risk management services encompass advice on designing, implementing and optimizing risk management systems, and performing statutory audits of systems facilitating the early detection of risks pursuant to Sec. 317(4) of the German Commercial Code in conjunction with Sec. 91(2) of the German Stock Corporation Act. We perform our risk management advisory services in compliance with best practice (e.g. COSO II framework).

Internal Audits

For small and medium-sized enterprises in particular, engaging external advisors to perform internal audits can be a sensible option for cost reasons. Our experts offer the advantage of an external, objective perspective on your organization. With their wide-ranging experience, they are familiar with the current industry benchmarks and best practice. We conduct audits efficiently and with the desired impact on risk mitigation and process optimization.