Industry Focus
The audit, assurance and consultancy services provided by Wirtschaftsprüfer means that they have sound knowledge in individual industries:
- Industry focus include for example,
- Transport and automobile industry
- Chemical and pharmaceutical industry
- Trade and consumer goods
- Financial services (banking insurance and financial services)
- Energy sector
- Public sector
- Charities
- Hospitals
- Real estate
- Expert opinions
Members of the profession act as technical experts in respect of commercial business issues. In case of disputes, e.g., as to the appropriate amount of compensation for stakeholders with-drawing from a business, it is common for the courts to include a Wirtschaftsprüfer as an expert witness. As a result of the potential accorded by this kind of experience entities, shareholders and private individuals also engage Wirtschaftsprüfer to prepare expert opinions and reports of all kinds.
Trusteeship
The strict professional rules to which Wirtschaftsprüfer adhere ensure they safeguard the assets and legal interests entrusted to them in an altruistic manner.
The trusteeship roles that are undertaken by Wirtschaftsprüfer include:
- Insolvency administration
- Liquidation
- Deceased estate administration
- Execution of wills