{"id":394,"date":"2016-11-03T22:12:05","date_gmt":"2016-11-03T21:12:05","guid":{"rendered":"https:\/\/www.steuerpraxis.net\/?page_id=394&lang=en"},"modified":"2025-02-14T11:03:43","modified_gmt":"2025-02-14T10:03:43","slug":"accounting-and-auditing","status":"publish","type":"page","link":"https:\/\/www.steuerpraxis.net\/en\/doing-business-in-german\/accounting-and-auditing\/","title":{"rendered":"Accounting and Auditing"},"content":{"rendered":"

Legal obligation to keep Records<\/h4>\n

According to commercial law, every merchant must keep books and make an annual financial statement according to operating assets comparison. Sole traders are not required to keep accounts if their turnover is below 800.000,00 \u20ac and the profit below 80.000,00 \u20ac. The same limits apply under tax law (turnover 800.000,00 \u20ac, income from business enterprise below 80.000,00 \u20ac). The German\u00a0 business year is from 01 January to 31 December (=calendar year). There is the option to specify a deviating business year.<\/p>\n

Disclosure<\/h4>\n

Capital companies and certain partnerships (GmbH & Co. KG) must publish their annual financial statement in the Federal Gazette within 12 months after the balance sheet date. The publications must be submitted electronically. Publications can be viewed at\u00a0Federal-Gazette<\/a>.<\/p>\n

Auditing<\/h4>\n

Auditing generally means the review of the financial conduct of companies in the scope of annual financial statement auditing. In this area, accounting, balancing and the internal control system are audited. In Germany, only certified public or general accountants are authorised for such audits. Auditing is to ensure formal and factual correctness of a company’s statements. Medium-sized, large capital companies and companies subject to limited liability are obliged to undergo auditing.<\/p>\n

If at least 2 of the following characteristics apply, to two subsequent balance sheet dates\u00a0<\/span><\/p>\n

\u00a0<\/pre>\n\n\n\n\n\n\n
\u00a0<\/td>\nvery small<\/td>\nsmall<\/td>\nMedium Sized<\/td>\nlarge<\/td>\n<\/tr>\n
Balance sheet sum in Mio \u20ac<\/td>\nup to 0,45<\/td>\nup to 7,5<\/td>\nup to 25,0<\/td>\nover 25,0<\/td>\n<\/tr>\n
Turnover in Mio \u20ac<\/td>\nup to 0,90<\/td>\nup to 15,0<\/td>\nup to 50,0<\/td>\nover 50,0<\/td>\n<\/tr>\n
Employees<\/td>\nup to 10<\/td>\nup to 50<\/td>\nup to 250<\/td>\nover 250<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n\n\n\n
As of 01\/2024<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"
Legal obligation to keep Records According to commercial law, every merchant must keep books and make an annual financial statement according to operating assets comparison. Sole traders are not required to keep accounts if their turnover is below 800.000,00 \u20ac and the profit below 80.000,00 \u20ac. The same limits apply under tax law (turnover 800.000,00 […]<\/p>\n","protected":false},"author":1,"featured_media":165,"parent":382,"menu_order":6,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-394","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nAccounting and Auditing - Dr. Schmidt-Wilke + Partner Steuerberatungsgesellschaft mbH<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.steuerpraxis.net\/en\/doing-business-in-german\/accounting-and-auditing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Accounting and Auditing - Dr. Schmidt-Wilke + Partner Steuerberatungsgesellschaft mbH\" \/>\n<meta property=\"og:description\" content=\"Legal obligation to keep Records According to commercial law, every merchant must keep books and make an annual financial statement according to operating assets comparison. 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