Compliance & Regulatory Audits

Just because certain audits are required by law does not mean that they should only be seen as a matter of routine. It goes without saying that this is not what you want, and neither do our registered auditors. In addition to conventional reporting they go in search of opportunities to improve your operating processes and internal audits. The innovative, proactive manner in which they look at planned transactions or your day-to-day operations could easily result in some surprising ideas or tips. Additionally, at BDO you are certain to have a point of contact who speaks your language, and who has a thorough knowledge of your sector. This then has a beneficial effect on your motivation and on your business.
As a big company or organisation you are legally required to have your annual accounts inspected by an independent registered or statutory auditor.

Aside from this, there are also other transactions in regard of which the law requires the intervention of a registered auditor. These include:

• contributions in kind and quasi-contributions;
• mergers and demergers;
• dissolutions;
• changes to a company’s legal form;
• issuing of shares below par value.

In the works council

Does your company have a works council? If it does, you will be obliged to inform the employee representatives about the economic and financial health of your company once every year, as well as provide a detailed explanation of the figures and results. Confidence is a crucial aspect in this regard, and so is your choice of registered auditor. He or she has to confirm that the information you present is accurate and complete, exude an aura of integrity and speak your language.

Even more important: your registered auditor must be able to explain and illustrate the figures and analyses in layman’s terms. After all, incomprehension leads to distrust and will never contribute to a peaceful social climate.

Contractual audit assignment

So, why not voluntarily arrange for an audit? In the event of restructuring, for example (e.g. a buy-back, transfer, merger or capital increase), or because you wish to substantiate specific expenses to capital or grant providers. This is not required by law, but the expertise and, even more so, the confidence that an independent third party will lend to this disclosure, will only be to your benefit.

What are you looking for?

• An experienced registered auditor backed by a team of financial, legal and tax experts
• Ongoing feedback and respect for planning and deadlines
• Clear agreements about invoices (no surprises)
• To-the-point reporting and no small talk
• An easily accessible confidential advisor whom you can count on not to run off with your customers
• An experienced point of contact with knowledge of your sector
• An accessible, worldwide network

International standards and an independent approach

The analyses, audits and reviews compiled by the registered auditors at BDO comply with the International Standards on Review Engagements (ISRE) or the International Standards on Related Services (ISRS). If applicable, account will also be taken of specific local standards. Last but not least, we scrupulously comply with the rules that apply to an independent status.