BaFin audit priorities 2024

BaFin will focus on the presentation of companies' business models and management systems in the management report. BaFin points out that the business activities of groups are often extensive and complex. This must be reflected in the management report or group management report so that users of the financial statements can form their own judgement of the situation of the company or group. This should include information on the organisational structure, business processes, products and procurement and sales markets. Management must explain how it manages the company or group and how it intends to achieve the targets set. The financial and, if applicable, non-financial performance indicators used to measure progress must be addressed.

Finally, BaFin draws attention to the priorities announced by the European Securities and Markets Authority (ESMA) on 25 October 2023 (we reported on these in Express Accounting News 33/2023): Impact of climate and other environmental matters, as well as the macroeconomic environment.

BaFin's national audit priorities were published in a press release on the BaFin website. A more detailed presentation will be provided in Accounting News 12/2023, which is expected to be published on 15 December 2023.