The IDW Auditing Standards contain the German Generally Accepted Standards on Auditing as promulgated by the IDW governing the conduct of an audit of financial statements and set forth the procedures to be performed.
The IDW Auditing Standards transpose the requirements of the International Standards on Auditing (ISA) to the extent possible and include a description of any differences thereto arising from German legal requirements and also set forth the views of the Wirtschaftsprüfer profession on technical auditing issues whilst contributing to their development.
Auditors may only deviate from IDW Auditing Standards in justified individual cases within the scope of the Wirtschaftsprüfer's professional independent responsibility. Any deviations are to be highlighted and justified in detail in the long-form audit report and mentioned in the scope paragraph of the auditor's report.
If a German public auditor does not observe IDW Auditing Standards without good reason, this departure from the views of the profession may count against him or her in respect of claims to damages, proceedings brought before the professional supervisory body or criminal proceedings.