Professional Regulations

The German Public Accountants Act (WPO) and Professional Statutes for Auditors. Any information associated with these regulations can be found on the website of Chamber of Public Auditors under the following link: www.wpk.de.

The Tax Consulting Services Act (StBerG), statutes on adoption of regulations by tax advisors, tax commissioners, and tax consulting companies (DVStB), statutes on rights and duties for active tax advisors and tax commissioners - rules of professional conduct (BOStB) and fees regulation act for tax advisors, tax commissioners and tax consulting companies. Any information associated with these regulations can be found on the website of German Chamber of Tax Advisors under the following link: http://www.bstbk.de.

Audit companies are subject to obligation to purchase a professional liability insurance at the Versicherungsgemeinschaft für das wirtschaftliche Prüfungs- und Treuhandwesen [Insurance pool for auditors and treasurers], Dotzheimer Str. 23, 65185 Wiesbaden. This insurance coverage provides adequate coverage with respect to territory covered and fulfills the minimum requirements of Section 67 of StBerG, Section 51, et. seq. DVStB, Section 54 WPO in conjunction with the statues for professional liability insurance for auditors and appointed bookkeepers (WPBHV).