Final audits

Final audit in preliminary and opened proceedings

A qualified final audit supports you in many ways. Due to the considerable number of medium to large insolvency or bankruptcy proceedings with the same staffing levels at the courts, there is an increasing need for external auditors in the area of final audits in preliminary as well as opened proceedings. Thanks to our sound business training and our watertight qualifications as auditors and tax advisors, we are ideally suited to take over the auditing of accounts at the conclusion of insolvency or bankruptcy proceedings as external experts.

We have been appointed as external auditors by insolvency courts since 2006. More than 22 insolvency courts in Hesse, Rhineland-Palatinate, Baden-Württemberg, North Rhine-Westphalia, Saxony as well as in Bavaria commission us with the final audit in preliminary and opened proceedings as well as the audit of insolvency plans (as of June 2021). Furthermore, we are also regularly appointed by creditors' committees in large insolvency proceedings to carry out the necessary cash audits.

Through around 700 appointments today (as of June 2021), we have extensive knowledge and experience in conducting final audits in provisional and opened proceedings as well as auditing insolvency plans. The scope of the audit is generally based on the audit decision of the insolvency court or the creditors’ committee.

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During a final audit pursuant to section 66 of the German Insolvency Code (InsO) and a cash audit pursuant to section 69 sentence 2 of the German Insolvency Code, the following are regularly audited:

  • Verification whether the final account has been prepared completely and properly in accordance with the rules of commercial accounting
  • Verification whether the claims satisfied by the liquidator are to be regarded as debts of the insolvency estate within the meaning of sections 54, 55 (1) and (2), section 100 or section 123 (2) sentence 1 of the German Insolvency Code (InsO)
  • Verification whether the amounts distributed by the liquidator to creditors entitled to separate satisfaction and determining the contributions to costs of the insolvency estate pursuant to section 171 of the German Insolvency Code (InsO) have been determined and calculated in a factually and mathematically correct manner.
  • List of the proceedings conducted by the liquidator together with the amounts realised therefrom for the estate
  • Verification of the extent to which amounts of the insolvency estate have accrued to the liquidator directly or to persons or companies associated with the liquidator
  • Verification of the correctness of invoices for fees related to tax advisory services within the scope of the German Ordinance on the Remuneration of Tax Consultants (StBGebV)
  • Verification whether the insolvency estate has been fully and properly realised