Auditing from WISTA.
Through our highly qualified auditors your on the safe side with us.
Auditing is one of our core competences!
With our risk and process-oriented auditing approach supported by the employment of a highly developed auditing and reporting software system we are able to offer you much more than a mere confirmation of the correctness of your individual or consolidated financial statement.
We analyze your business processes and help in identifying weak points. We can then develop tailor-made solutions, creating a competitive advantage for your firm. We are also interested in how effectively your monitoring and early warning system functions so that you are not suddenly presented with unexpected risks which could endanger your firm’s future development.
With us you can rely on the services of highly qualified and experienced auditors. In contrast to the big auditing companies, our audit teams are not constantly changing so that you do not have to explain your company again each year. For us, the focus is always on a long-term, partnership-like collaboration.
Auditing on a solid foundation:
As a result of legally mandated audits we can guarantee you and your
business partners that your year-end financial statement will be correct and proper.
» For more information, please refer to the column on the right: Service overview, legal audits
Even if legislators do not prescribe an audit, a voluntary audit builds
trust among your financiers and business partners. Voluntary audits
are becoming increasingly important for a firm’s success.
» For more information, please refer to the column on the right: Service overview, voluntary audits
Audit-related consulting services
Our expertise in all areas of accounting makes us a competent partner
for your conversion process. We support both companies during their
conversion from the German Commercial Code (HGB) to the
International Financial Reporting Standards (IFRS) as well as public
corporations in replacing fiscal accounting with double entry accounting.
The introduction of IFRS represents a challenge to the entire firm.
We will support you during the entire conversion process. Working
together with your project manager we can develop a detailed project
plan specifically tailored to your requirements which can then be
implemented with our assistance.
The conversion process in thress phases:
- Determination of the financial differences between HGB and IFRS
- Assessment of the capability of the existing IT system
- Determination of the personnel requirements
- Cost estimation
- Basic decision regarding the conversion
- Preparation of a detailed plan
- IFRS training for employees
- Specification of the financial and assessment guidelines to be applied
- Adaptation of the IT system
- Implementation of the financial and assessment guidelines
- IFRS year-end financial statements
- Adaptation of the reporting system
At the successful conslusion of the conversion to IFRS you will be more than ready to meet the forthcoming challenges arising from your firm's further internationalization.
New communal financial management:
An era is drawing to a close for communal budgetary management.
The current budgetary law of fiscal accounting has reached the end
of its life and will be replaced by the new communal financial management
system. Numerous communities and chambers in Germany have already
decided in favor of introducing double entry budgetary and accounting methods.
We can provide support throughout the entire conversion to double entry accounting.
In this, the focus is on the specific needs of your community or chamber.
Together with the project leader, we will assume on-site project management of the conversion project. Our consultant will work together with your community or chamber to prepare a project plan. This project plan will be subdivided into sections which can either be implemented independently by your community or chamber or can be implemented together with us.
» For more information, please refer to the column on the right: Consulting modules for the implementation of the new communal financial management
Within the context of the legally mandated “peer review” procedure,
our quality assurance system was examined in 2005 by another,
independent auditing firm to ensure its propriety and effectiveness.
The examination result certified that our standards for order processing,
for the internal examination of order processing and with regard to our
practical orientation all comply with existing legal requirements.
WISTA AG was therefore certified as participating in the quality control
system in accordance with § 57a. Para. 6. Clause 7 of the WPO.
Our service portfolio:
statements in accordance
with the HGB
statements in accordance
with International Financial
Reporting Standards (IFRS)
· Examination of the
propriety of the business
management in accordance
with § 53 of the HGrG
· Founding audits of limited
liability companies ·
Restructuring and merger
audits · Examinations in
accordance with the broker
and developer ordinance
· Voluntary year-end closing audit · Due diligence examinations for company and participatory acquisitions · Examination of business procedures and internal controlling systems (ICS) · Examination of the risk management and monitoring system · Examination of the propriety of settlement prices, cost allocations and und license fee billing · Prospectus examinations · Examination of business start-up concepts · Examination of business plans · Examination of restructuring concepts
Consulting modules for the implementation of the new communal financial management:
· Examination and feasibility study of the conversion plan · Asset acquisition and valuation · Employee training for the conversion and subsequent operational phase · Adaptation of the organizational structure, structuring the partial budgets · Foundation of a cost/activity accounting · Budget planning · Budgeting departments and products · Strategic consultation for the opening balance and subsequent budget management · Preparation of the first double entry year-end financial statement
Naturally, every module will be adjusted to meet your community’s or chamber’s