Enforcement Advice

The accounting of capital market-oriented companies in Germany is not only scrutinised by supervisory boards and auditors, but also by the Federal Financial Supervisory Authority (BaFin). This so-called enforcement process exposes capital market-oriented companies to additional challenges in accounting.

In order to support you constructively and with foresight in the audits within the scope of accounting enforcement, KPMG has bundled the relevant know-how and practical experience in the area of enforcement advice.

An error determination by BaFin and the associated consequences on the capital market are challenging for the companies concerned. Therefore, the avoidance of an error determination is the goal of our "Enforcement Advice" service. 

We offer you advisory services to support you in the context of an audit of financial reporting by BaFin. 

Our core services include: 

• Preparation for an enforcement procedure:
  • eview of the documentation submitted on the basis of the lists of requirements to identify gaps and discussion of the findings in a workshop.
  • BaFin readiness: Support in closing the gaps identified in the gap analysis.

• Procedural support:
  • Analysis of BaFin question letters and support in the development of a response strategy through guidance and recommendations
  • Support in drafting response letters by providing suggestions, hints and recommendations based on the response strategy
  • Review of the draft responses
  • Conducting a final review session (editing session) for the response letters

• Pre-Issuance Review: review of the financial statements and/or management report during preparation, including notes and recommendations, in order to prevent possible points of attack by BaFin in capital market communication as far as possible.

With the competence of our specialists, their networks and our extensive enforcement databases, we can provide you with high-quality results in the shortest possible time. We look for individual and sustainable solutions for your case that will give you the support and security you need for your next BaFin audit.