There are many reasons for international accounting according to IFRS. In most cases, the application of IFRS is already required by law due to the capital market orientation. However, internationalization and pending transactions also clearly indicate the trend that German SMEs and start-ups often voluntarily prepare their accounts in accordance with IFRS in order to be of interest to international investors. These often demand international accounting according to the "true and fair view" principle and cannot judge our more conservative HGB accounting practice. In a sales transaction, an already existing IFRS accounting can significantly simplify the sales process and thus noticeably improve the transaction price.
Today, external accounting and reporting go far beyond the fulfillment of legal requirements. The addressees of financial reporting have high expectations of the reliability of the reporting and the underlying accounting system. The auditing of capital market-oriented companies is characterized by the relevance of the International Financial Reporting Standards (IFRS). The tight timing of reporting requirements resulting from capital market regulations is usually a challenge for companies preparing international financial statements. The German Financial Reporting Enforcement Panel (FREP) also imposes a burden on capital market-oriented companies.
Our IFRS experts at PKF WULF GROUP provide you with competent and innovative support on all relevant issues relating to international accounting: From the mandatory audit of capital market-oriented companies to the conversion of accounting from HGB to IFRS in the run-up to IPOs or corporate transactions, to support in the introduction of new standards of international accounting (e.g. IFRS 16).
Preparation of financial statements
- Preparation of individual and consolidated financial statements (especially in the context of fast close)
- Group Reporting
- Creation of the Notes
- Support for IFRS implementation
- Preparation of accounting guidelines
- Support for the introduction of new IFRS standards
- Purchase price allocation (PPA) and impairment testing
Audit of financial statements
- Audit of group packages
- Audit of capital market-oriented companies
- Accompaniment of FREP examinations
Our team consists of experienced auditors and specialists in international accounting (CINA) who regularly undergo further training. In addition, we are a member of the "International Accounting" working group of PKF Germany and regularly follow current topics via our subscriptions:
- KoR: International and Capital Market Accounting
- IRZ: Journal of International Accounting