Auditing under Article 53 of the German Budgetary Principles Act (HGrG)

If a local government body holds a majority share in a private company, the annual audit must include an audit to give an opinion on the truth and fairness of the management report. This is provided for under paragraph 53 of the German Budgetary Principles Act (known by its German initials HGrG). In many cases, a similar audit is required for government bodies and institutions covered by special regulations.

In particular, a truth and fairness audit of management covers the important management functions of systems administration, monitoring and financial control, investment and finance, procurement and commissioning as well as the design and efficiency of the risk management function. In addition, an in-depth analysis and assessment of the financial position is carried out.

PwC is market leader in audits of public enterprises

As market leader in auditing public enterprises, PwC has comprehensive knowledge concerning all aspects of the truth and fairness of accounts. Specially trained experts who focus on the needs of individual industries have many years of experience in auditing public enterprises.

Based on the benchmarking experience gathered by PwC over the past years, PwC's experts can provide valuable tips on further organisational development and improvements, as well as efficient design of business processes. PwC helps businesses to convert identified potential for improvement within legal parameters.

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Joachim Gorgs

Joachim Gorgs

Partner

Tel: +49 211 981-2402

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