Group Audit

Group Audit Services with ACCONSIS: Digital, efficient and international

Group audits are essential for investors, shareholders, supervisory authorities, and public institutions. Audited consolidated financial statements provide formal assurance as well as valuable insights into management quality, corporate risks and strategic direction. Auditing consolidated financial statements can present unique challenges, especially for groups with complex shareholding arrangements and international operations – both in terms of accounting assessment and technical execution.

ACCONSIS specialises in supporting medium-sized and large corporations with advanced audit methodologies, digital tools and extensive experience with sophisticated group structures. Our auditors examine consolidated financial statements in accordance with the German Commercial Code (HGB) and international frameworks such as IFRS, US GAAP and PCAOB. Through our partnership with Allinial Global, we seamlessly coordinate cross-border audits for international groups.

Clients benefit from our breadth of expertise and international perspective, combining the technical capabilities usually associated wiht large firms with the flexibility, competitive pricing and personalized approach of a medium-sized audit firm.

Interested in a free, no-obligation initial consultation regarding group audits or our wider audit services?

When is a group audit required in Germany?

In Germany, consolidated financial statements must be audited whenever a parent company is obligated to prepare these statements under the German Commercial Code (HGB). This requirement applies regardless of company size, particularily to parent companies that exercise control over one or more subsidiaries.

Entities subject to group audits include:

Capital market-oriented companies: Listed parent companies must always have their consolidated financial statements audited, typically under International Financial Reporting Standards (IFRS).

Parent companies (e.g. GmbH, AG): Entities required to prepare consolidated financial statements are also legally required to have them audited.

Group audits – special cases

Certain small or micro-corporations, or companies exempt under specific conditions outlined in Section 293 of the German Commercial Code (HGB) may not be required to prepare or audit consolidated financial statements. Horizontal groups do not undergo audit at the top group level.

Our approach to group audit: digital, efficient and international

We see ourselves not merely as a supervisory body, but as a forward-looking partner. We take a proactive, risk-oriented approach, customizing our audit process to suit the unique structure and needs of each client, especially in complex group arrangements.

Our services range from audits of medium-sized holding companies to multinational groups. Our team utilizes advanced digital audit platforms, data analytics—including process mining—and AI-powered assessment tools to identify and address risks early while streamlining the audit process.

A professional and efficient group audit with ACCONSIS means for you:

• Personal contact person, nationally and internationally: A dedicated audit manager (auditor) guides you throughout the engagement. When appropriate, they will coordinate cross-border audits in close cooperation with partners from our international network, Allinial Global.
• Competent, interdisciplinary team: Our experienced audit teams bring deep experience and many years of auditing experience, particularly with complex group structures and international standards. When appropriate, they collaborate with specialists in commercial law, tax law or other technical areas.
• Tailored audit strategies: Every audit is designed to fit the specific needs. We have extensive experience in auditing groups with complex structures (subsidiaries, foreign companies, investments) and tailor our audit strategy to the individual requirements of the company. Pragmatic, flexible and efficient.
• Added value from the group audit: You gain in-depth insights and knowledge to optimise your internal processes, strengthen your ICS and improve the quality of your reporting.
• Comprehensive expertise: Our auditors are experienced in audits according to the German Commercial Code and international standards such as IFRS, US GAAP and PCAOB. We serve international groups worldwide in close cooperation with highly professional partners from our Allinial Global network.

We support you with expertise and a pragmatic, modern audit approach that is tailored to the requirements and complexity of your group.

Frequently asked questions about group audits

What is the difference between an annual financial statement audit and a consolidated financial statement audit?

An annual financial statement audit reviews the records of a single, legally independent company. In contrast, a consolidated financial statement audit evaluates the financial reports of an entire group – including the parent company and all affiliated subsidiaries – offering a comprehensive overview of the group´s financial position.

Who must have consolidated financial statements audited?

Any parent company obligated to prepare consolidated financial statements under HGB or international accounting standards must have them audited, regardless of industry or size.

What is the purpose of a group audit?

The audit provides assurance that the group’s financial information is complete, accurate, and compliant with legal requirements, giving stakeholders a reliable view of the group’s financial health.

Who can conduct a group audit?

Only independent auditors or audit firms are authorized to perform these engagements.

What if consolidated financial statements are not audited or published on time?

Missing legal deadlines (generally six months after the financial year’s close) can lead to penalties, administrative fines, and a loss of confidence among banks and business partners.