Auditors

Auditors practice a liberal profession. The auditor is sworn in and appointed by the highest state authority for economics after a state approval and examination procedure. The Wirtschaftsprüferordnung contains the professional regulations. All auditors are compulsory members of the Chamber of Auditors.

Duties of the auditor

The auditor's tasks include the examination of annual financial statements including consolidated financial statements, establishment, merger, conversion, creditworthiness and embezzlement reviews. Auditors are authorized to provide assistance in tax matters. Additional tasks include: general management consulting, work as an appraiser as well as fiduciary administration and the protection of foreign interests in economic matters. The main professional principles of the auditor are independence, personal responsibility, conscientiousness and confidentiality.
Die Zulassung zum Wirtschaftsprüfer-Examen ist an bestimmte Voraussetzungen gebunden: Das Academic principle knüpft an ein Hochschulstudium mit wirtschaftswissenschaftlicher Ausrichtung mit anschließender fünfjähriger praktischer Prüfungstätigkeit an. Die Zulassung von Antragstellern, die kein abgeschlossenes Hochschulstudium nachweisen können, ist möglich, wenn sich der Antragsteller in mindestens zehnjähriger Tätigkeit bei einem zur Vornahme von Pflichtprüfungen Berechtigten bewährt hat oder wenn er seit mindestens fünf Jahren den Beruf eines vereidigten Buchprüfers oder Steuerberaters ausübt.

The future development of the auditing profession will be shaped by the increasing internationalization of business and thus also of auditing and advisory activities as well as a stronger emphasis on the advisory element. In analogy to the Sarbanes-Oxley legislation, numerous laws have also been introduced in Germany which are intended to ensure the independence of the auditor and which newly regulate the provision of tax advisory services by auditors (in particular Bi1ReG, Bi1KoG, APAG)

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