Competence in methodology and industry knowledge
The professional training and experience Wirtschaftsprüfer gain in their day-to day work qualifies them to provide support to their clients on various aspects of business. This includes, in particular, recommendations for the development of strategic concepts, management information systems and internal early-warning systems, and feasibility studies.
Solutions for business-related issues
- Key areas for consulting and advisory services include for example.
- Restructuring and remediations
- Forensic and fraud
Entity acquisitions or investment, mergers and initial public offerings often require profes-sional advisory services. Wirtschaftsprüfer can assist in preparation, implementation through to post-implementation supporting individual aspects or the entire process. In addition, there are further opportunities for valuation services e.g., wealth management and inheritance disputes.
Failure to recognize crisis scenarios can have fatal consequences for entities. Transparency is therefore important for management and those providing financial support, as a foundation for them to estimate risks and make decisions on further measures. In addition, non-recognition of factors requiring initiation of insolvency proceedings can pose risks for the entity’s officers in the sensitive areas of liability and criminal law. This is a further area where the competence of a Wirtschaftsprüfer is in demand.
Uncovering business crime
Wirtschaftsprüfer can assist in uncovering business crime such as fraud, money laundering, corruption, emblement or other forms of damage to wealth. They can apply forensic proce-dures to investigate suspected cases of misappropriation. Likewise, they can develop recom-mendations for protection against business crime.
Reliable data form an important basis for commercial decisions. Many services offered by Wirtschaftsprüfer relate to IT applications supporting business processes, IT systems or data models. Typical issues on which Wirtschaftsprüfer advise include IT security, data protection, IT dependency and access (business continuity management) or process efficiency.