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We perform audits of annual and consolidated financial statements with a thorough and comprehensive understanding of the business activities and the sectors of our clients. We develop an individually attuned approach to audits and implement the examinations in an effective and value-adding manner for our clients. The aim we set for our auditing services is to generate more transparency, especially with regard to risks and prospects.
Our clients and their companies are at the very heart of our approach to audit. It is our goal to help them achieve sustainable growth. We identify their existing risks and potentials in order for them to be able to respond timely to changes. The suitability and reliability of business processes and the measures to be taken for risk management thus become transparent so as to facilitate judgment.
With our wide range services covering all areas of financial services, we guarantee our customers profound knowledge and maximum due care. Our services range from comprehensive audits and audit-related consulting services, in order to optimally support the implementation and optimization of all regulatory requirements for banks and financial institutions, to the preparation and actual procedures involved in corporate transactions. The monitoring and implementation of accounting systems also belong to our service package, as well as meticulously customized in-house trainings on relevant issues in this sector.
Besides conducting the audit of annual financial statements, special audits and certificates are repeatedly required. With our demand-oriented approach, we bring about such results as are certain to enhance the confidence in our clients’ businesses, strengthen their organization and secure their competitive edge.
The Institute of Public Auditors in Germany (IDW, Institut der Wirtschaftsprüfer) defines the requirements for the ‘preparation of reorganization concepts’ (IDW S 6) and the underlying professional stance developed on the theoretical, practical, and legal bases. Each case of reorganization requires its own professionally guided solution, but the core components of a reorganization concept are always:
- the description of the object and scope of the contract
- the depiction of the baseline economic position
- the analysis of the stage of the crisis and the causes of the crisis
- the presentation of the mission statement of the company to be reorganized
- the measures to be taken to overcome the crisis the company is facing
- an integrated business plan
It is only on the basis of these key components that a statement about the reorganization capacity can be derived. The requirements specified in the official standard (IDW S 6) serve as the basis for the preparation of reorganization concepts of the MSW reorganization experts, with due attention paid to specific characteristics of each contract.
Company valuations can take place for diverse reasons. Occasions can arise, inter alia, in connection with corporate initiatives (sale of companies, mergers, contributions in kind, management buy-out, etc.), on the grounds of external accounting, in compliance with statutory provisions under corporate law or other laws, or on contractual agreement. In principle, the enterprise value is determined as the present value of future profits. In business valuation, such procedures as the earning capacity value method and discounted cash flow method have become common practices.
When companies are evaluated, an auditor can be involved in various capacities: as a neutral appraiser, advisor or arbitrator. Depending on the value of the company to be examined (an objective enterprise value, a subjective decision value, an agreed value), different assumptions can be made with regard to the prognosis and discounting of their expected future surpluses, the nature and scope of the synergies to be considered as well as personal relationships of the shareholders or their categorization.
The MSW experts can help you by delving into this complex issue and achieving optimal results adapted to the occasions. The standard for business valuation (IDW S 1) serves thereby as orientation.