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Nexia Ebner Stolz

Economic Sectors

Statutory audits

Si­gni­fi­cant sta­tutory au­dits of banks, fi­nan­cial ser­vice pro­vi­ders and pay­ment in­sti­tu­ti­ons also in­clude the ex­pan­ded au­dit of an­nual fi­nan­cial state­ments un­der Sec. 340k of the Com­mer­cial Code, in some ca­ses au­dits un­der Sec. 36 of the Se­cu­ri­ties Tra­ding Act, and se­cu­ri­ties ac­count au­dits. Au­dits of con­so­li­da­ted fi­nan­cial state­ments of ban­king groups – of­ten un­der IFRSs – are also among our core com­pe­ten­ces.

Au­dits of the an­nual fi­nan­cial state­ments of banks, fi­nan­cial ser­vice pro­vi­ders and pay­ment in­sti­tu­ti­ons in­clude au­diting not just the fi­nan­cial state­ments un­der the Com­mer­cial Code and the ma­nage­ment re­port, but also the in­sti­tu­ti­ons’ or­ga­niza­tio­nal du­ties. That es­pe­cially ex­tends to au­diting and as­ses­sing the ap­pro­pria­ten­ess of the risk ma­nage­ment sys­tem. The em­pha­sis here is on the con­cept es­ta­blis­hed for risk-bea­ring ca­pa­bi­lity, ma­nage­ment of risks con­side­red si­gni­fi­cant, and a pro­cess-ba­sed au­dit with re­por­ting to cli­ents, bea­ring in mind the ad­dres­see’s need for in­for­ma­tion.

Len­ding is ge­ne­rally the core busi­ness of ban­king in­sti­tu­ti­ons, and a si­gni­fi­cant part of au­diting an­nual fi­nan­cial state­ments. We eva­luate whe­ther len­ding is or­ga­ni­zed in an or­derly, risk-ap­pro­priate way, and whe­ther the tools used to iden­tify, con­trol and mo­ni­tor de­fault risks are ap­pro­priate. 

Statutory audits© Thinkstock
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