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Nexia Ebner Stolz


Internal Auditing

Fast-growing companies, foreign subsidiaries, the need to standardize processes and apply the best benchmarks company-wide – the intensifying requirements of the market and competition are also having an effect on corporate organizational structures. You can’t consider strategy without a workable risk management system. Which means that a properly operating internal auditing department is the foundation for efficient core business processes.

Along­side its pre­ven­tive func­tion, inter­nal audi­ting is beco­ming more and more important as an exten­ded arm of cor­po­rate mana­ge­ment. Inter­nal audi­ting ope­ra­tes in a broad and diverse field that long ago began to reach beyond con­ven­tio­nal moni­to­ring func­ti­ons. Today, effec­tive inter­nal audi­ting also makes a valuable con­tri­bu­tion toward enhan­cing the effi­ci­ency of orga­niza­tio­nal pro­ce­du­res.

It’s often more cost-effec­tive for medium-sized enter­pri­ses to out­source their inter­nal audi­ting to an out­side pro­vi­der. The cost is easier to bud­get for, and they can be sure of having the ser­vices of expe­ri­en­ced spe­cia­lists. An out­si­der’s inde­pen­dent, objec­tive view­po­int can assess an orga­niza­tion wit­hout bias. High levels of pro­fes­sio­na­lism ensure effi­ci­ent audits, toge­ther with prompt infor­ma­tion of just the kind mana­ge­ment needs. Access to bench­marks and best practi­ces, as well as the syn­er­gies pro­vi­ded by our experts’ expe­ri­ence, exclu­des risks before they can become serious and sig­ni­fi­cantly impro­ves pro­ces­ses.

And if emer­gen­cies arise and there’s a need for ad hoc audi­ting, we’re available quickly and fle­xi­bly. You can rely on us here, too.

Inter­nal audi­ting is a com­plex issue, and not always free from con­tro­versy. But thanks to our neu­tra­lity and pro­fes­sio­na­lism, we can always offer a healthy sense of pro­por­tion. When inter­na­tio­nal ques­ti­ons arise, we con­sult our col­lea­gues in the Nexia Inter­na­tio­nal net­work wit­hout get­ting bog­ged down in bureau­cracy.

Our ser­vices at a glance

  • Assi­s­tance with set­ting up your inter­nal audi­ting depart­ment
    • Orga­ni­zing struc­tu­res and pro­ce­du­res
    • Audi­ting con­cept
    • Audi­ting manual as a gui­de­line for con­duc­ting audits
  • Inter­nal audi­ting of equity inte­rests in Ger­many and abroad
  • Qua­lity assurance at exis­ting audi­ting depart­ments
  • Misap­pro­pria­tion audits

If a busi­ness crime ever occurs, the goal is to mini­mize the damage.  First, it’s essen­tial to deter­mine the spe­ci­fic nature and extent of what’s hap­pe­ned. Then we can work with you to deve­lop and imp­le­ment spe­ci­fic stra­te­gies to keep it from hap­pe­ning again.

  • Inter­nal con­trol sys­tem under the Sar­ba­nes Oxley Act (SOX 404)
Com­pa­nies that are lis­ted on U.S. stock exchan­ges and have sub­si­dia­ries in Ger­many, and Ger­man com­pa­nies lis­ted on U.S. exchan­ges, must set up and main­tain an appro­priate inter­nal con­trol sys­tem. Mana­ge­ment must audit and docu­ment the sys­tem’s effi­cacy every year.

A report on the effi­cacy of the com­pany’s inter­nal con­trol sys­tem for finan­cial repor­ting must be atta­ched to the annual finan­cial sta­te­ments, and cer­ti­fied by the audi­tor. We can assist you by

  • Set­ting up and imp­le­men­ting an appro­priate, effec­tive inter­nal con­trol sys­tem toge­ther with stan­dar­di­zed con­trol mecha­nisms
  • Ensu­ring impro­ved mana­ge­ment con­trol
  • Assis­ting with the func­tio­nal tes­ting of your inter­nal con­trol sys­tem in advance of a “SOX audit.”
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