Auditing annual financial statements

according to HGB, IAS and US GAAP

Businesses of a certain size are due to the accounting principles obliged to forward their annual account and their status report – should the situation arise their consolidated financial statement and their group management report as well – to an auditor to undergo an inspection. Furthermore, an inspection of the annual account and the status report can become necessary, if a deed of association or the management or supervisory board pleases so.

During the implementation, the auditor has to mind any of the examination standards (PS) as well as examination instructions (PH) that have been laid down by the institute of auditors (IdW). Its contents to a great extent follows the ‚International Standards of Auditing’ (ISA), which have been published and developed by the International Federation of Accountants (IFAC).

The inspection of annual accounts is a fundamental component of our competences. In our association we have got four auditors who each are well experienced in carrying out such tests.

We also gladly take on the design of your annual financial statement or consolidated financial statement or advise you with our expertise.

Since 2005, consolidated financial statements of businesses listed on the stock exchange have to be worked out according to International Accounting Standards (IAS) or respectively International Financial Reporting Standards (IFRS). Since that time businesses which are obliged to produce a consolidated financial statement but are not listed can choose to work it out according to IAS or IFRS alternatively.

Should the business be member of an internationally operating corporate group, then often the obligation to produce a financial statement or a so called ‚Reporting Package’ according to IAS/IFRS, US-GAAP or a similar accounting standard arises.

Morison Köln is very well experienced in the inspection of annual accounts which have been worked out according to IAS/IFRS, US-GAAP or a similar accounting standard. We would be glad to help you introducing these standards in your business.

Your contact persons

Gert Nacken



Martin Kowol