Restructuring Reports, IBRs and Financing Confirmation
We issue opinions directed to third parties at a mutually agreed level of depth (“assurance level”) on matters and issues of relevance to the company.
The scope of our opinions ranges from indicative (initial) assessments (“quick checks”), opinions on definable issues to certificates and expert opinions, in which we also take a position and assume responsibility towards third parties.
Restructuring reports (IDW S 6)
We prepare restructuring reports in accordance with the IDW S6 standard as a solid basis for financing and business decisions. The focus is on analyzing the company’s financial situation, identifying the causes of the crisis, and developing a consistent restructuring concept with viable measures. This includes integrated income, balance sheet, and liquidity planning, as well as assessments of debt service capacity and financing requirements. A structured action plan ensures transparency and controllability. Finally, we provide an objective assessment of your company’s ability to restructure and continue as a going concern.
Protective shield certificate („Schutzschirmbescheinigung“) pursuant to Section 270d InsO (IDW S 9)
The implementation of insolvency proceedings under self-administration as so-called “protective shield proceedings” is regularly an option that is particularly suitable for the restructuring of a company. The prerequisite for such proceedings is a certificate, which must be issued by a qualified expert. In this context, we comment on the question of whether the requirements set out in section 270d InsO for the ordering of such protective shield proceedings are met.
Obligation to file for insolvency (IDW S 11)
We examine your liquidity planning or integrated corporate planning with regard to the (non-)existence of a obligation to file for insolvency. We discuss any anomalies in a personal meeting and discuss the next steps. If you do not yet have an (appropriate) corporate financial planning system, we will support you in preparing one.
Voluntary Annual Financial Statement Audits and Other Assurance Services
Trust in figures and facts does not arise solely from a legal obligation—often, it is the voluntarily sought, independent outside perspective that matters most to shareholders, banks, investors, or contractual partners. That said, not every situation is the same: sometimes a full audit opinion is required, sometimes limited assurance is sufficient, and sometimes precise findings on a specific matter are needed—without a formal audit opinion.
We support you across the entire spectrum of voluntary audit and assurance services: from voluntary annual financial statement audits and audits-in-the-public-interest to the review of non-financial and ESG information in accordance with ISAE 3000, and agreed-upon procedures. The format, scope, and level of assurance are tailored to your specific situation—not to a standard that is applied simply because it is always used.
Voluntary Audits of Annual Financial Statements and Review Engagements
Not every audit is required by law, although it is often advisable—in many cases, it is precisely the voluntary audit that builds trust where shareholders, banks, or investors expect reliable figures. Upon request, we also audit annual and consolidated financial statements even when there is no legal obligation to do so and issue an auditor’s report providing reasonable assurance.
Where a full audit is not required, a review (in accordance with IDW PS 900) offers a graduated level of assurance: With a reduced scope of review, we obtain limited assurance that the financial statements are free from material misstatements—faster and more cost-effective, yet with reliable validity even when presented to third parties.
Audit of Non-Financial Information and Compliance with Contracts (ISAE 3000)
Reliable statements that go beyond traditional financial figures are becoming increasingly important—whether they concern compliance with contractual obligations (covenants) or non-financial information such as sustainability and ESG metrics. Based on ISAE 3000, we review such matters and provide you and third parties with reliable assurance.
The scope depends on the assurance level agreed upon jointly: ranging from “limited assurance” to “reasonable assurance.” For example, we confirm compliance with specific contractual clauses, the correct calculation of agreed-upon metrics, or the reliability of non-financial disclosures—with a conclusion that the recipients can rely on.
Agreed-Upon Procedures (ISRS 4400)
An audit opinion is not always required—often, the goal is to examine precisely defined matters in a targeted and transparent manner. In the case of agreed-upon procedures, we work with you (and, if applicable, any third parties involved) to determine in advance exactly which procedures we will perform and which findings we will report.
We deliberately do not issue our own audit opinion or provide any assurance, but rather report on the results of the agreed-upon procedures based on the facts. The recipients draw their own conclusions from our findings. This format is suitable wherever transparency regarding specific figures, balances, or processes is required—such as in the case of purchase price clauses, use of funds, or license or revenue statements.
Financial Due Diligence and Fairness Opinions (Transaction Services)
In corporate transactions, the quality of the financials determines the price and the risks involved in the acquisition. How sustainable are the results? What one-time effects or hidden liabilities exist? What actually drives the value? The buyer needs a critical, independent analysis. The seller needs a robust and coherent overall picture. And sometimes, an independent assessment of the price’s appropriateness is required.
We support you on both sides of the table: with buy-side and sell-side financial due diligence as well as fairness opinions in accordance with IDW S 8. Our teams are led by certified public accountants and tax advisors and bring the trained perspective gained from their daily work on business models and financial planning. This provides you with a sound basis for decision-making that can withstand even the most critical scrutiny.
Buy-Side Financial Due Diligence
With our experience and critical approach, we support you in your purchasing process and, in teams led by auditors and tax advisors, carry out buy-side financial due diligence in particular. We know the levers of a company valuation and are not satisfied with superficial explanations. We conduct a well-founded, independent analysis of the assets, finances, and earnings of your target company, providing you with a reliable basis for your investment and transaction decisions.
Sell-Side Financial Due Diligence
With our experience, we can also provide you with the best possible support on the seller side. Thanks to our many years of daily involvement with business models and corporate planning in various contexts (setting up early risk detection systems, preparing restructuring reports, etc.), we are also familiar with the seemingly small levers that can help you achieve your goals. Identifying these levers and using them to present a coherent overall picture for your purposes is our core task when supporting the seller side in a corporate transaction.
Fairness Opinions (IDW S 8)
As part of our fairness opinions “in the narrower sense”, we comment on the financial appropriateness of transaction prices in the context of entrepreneurial initiatives.
In the context of our fairness opinions “in the broader sense”, we comment in a very similar way on definable financial issues. Examples include the retrospective valuation of company (shares) or the contractual fulfillment of performance obligations from a letter of comfort.
Early risk detection and corporate planning
“The members of the body appointed to manage a legal entity shall continuously monitor developments that could jeopardize the continued existence of the legal entity.” (non-official translation of Section 1 (1) sentence 1 StaRUG)
As part of the StaRUG, the legislator has tightened the duty of early risk detection and crisis management for management across all legal forms. By preparing and checking the plausibility of integrated corporate planning, we support managers in fulfilling their due diligence obligations.
Implementation of an Early Crisis Detection System pursuant to Section 1 StaRUG and IDW S 16
Section 1 StaRUG requires managing directors of limited liability companies to continuously monitor developments that may endanger the company’s continued existence, to take appropriate countermeasures, and to inform the competent supervisory bodies. This obligation applies irrespective of legal form and, in principle, regardless of the size of the company. IDW S 16 further specifies these statutory minimum requirements. In particular, it calls for a structured early crisis detection system with clearly defined responsibilities, a systematic risk and monitoring process, and continuous integrated business planning as a key management instrument.
At ECKERT ASSURANCE, we help our clients implement these requirements in a practical and effective manner - from risk identification and assessment to integrated planning and the design of processes, reporting lines, and documentation. In this way, a statutory duty to detect crises at an early stage is transformed into an effective early warning and management system for your company.
Integrated corporate planning and planning process
Many companies have no or inadequate integrated corporate planning, consisting of a coherent balance sheet, income statement and cash flow statement. However, at the first signs of a corporate it is time to obtain a detailed overview of the financial situation and future financial development. Managing a company by account balance is fraught with liability and is not an option.
We support you in the further development or creation of your integrated corporate planning and supplement it with key figures relevant to your company. Together, we develop structures that do not require extensive software and are suitable for everyday use. We put you in a position to recognize risk situations, develop solutions and, if necessary, initiate countermeasures in good time.
“Quick Check” planning and risk early warning system
Do you already have a risk early warning system and (integrated) corporate planning in place, but would like to check their resilience? As part of a “quick check”, we can quickly gain an overview of your planning process, identify strengths and weaknesses and assess the validity of your planning model and the appropriateness of your (financial) risk early warning system.
Business analyses and assistance
In addition to preparing and checking the plausibility of corporate financial plans or examining the grounds for filing for insolvency, we support you in a challenging environment with our business management expertise on a case-by-case basis.
Operational support in accounting
Through numerous projects across various industries and with a wide range of stakeholders, we understand the risk factors and the importance of a reliable and transparent dialogue between the company and its key stakeholders. For example, we assist both shareholders and executives in establishing a process that institutionalizes the preparation of regular reports tailored to the specific circumstances of each case and makes this process operationally manageable. Together, we develop management tools and early-warning systems that prevent unpleasant surprises and enable proactive monitoring of the respective engagement.
Option analyses
Making informed decisions - that is our credo in challenging situations. Together, we identify and develop options for action on a case-by-case and situation-by-situation basis and examine their advantages, particularly from a financial and insolvency law perspective.
Monitoring
At regular intervals, we analyze and discuss your company's business development on the basis of financial figures (target/actual comparisons). Our external monitoring creates trust and forms the basis for discussions “at eye level” with e.g. auditors and lenders.
Implementation of measures and operational support
With our business expertise and practical experience, we provide operational support both during and outside of a crisis. We don’t just prepare reports and analyses - we ensure that any necessary measures are put into practice and implemented. Our compensation is typically based on the extent to which we achieve the goals we set together in advance.
Identification and Implementation of Measures
We draw on the experience we have gained in numerous turnaround projects to proactively identify and implement the measures necessary to stabilize the situation of your company or your investment. The starting point for this is an assessment conducted as part of a Quick Check, which we typically complete within 10 days. We then jointly measure success based on the degree to which the identified and implemented measures have achieved their objectives. This success is also a key factor in determining our own compensation.
Crisis Management
During critical phases, demonstrating strong leadership and maintaining professional and transparent communication are essential factors in overcoming a corporate crisis. Drawing on proven methods and extensive experience in crisis management, we provide you with personalized on-site support. Together, we conduct critical negotiations and discussions and stabilize your company’s liquidity situation so that you do not lose control of the next steps.
Operational support in accounting
Whether you’re facing a backlog in accounts receivable, accounts payable, or general ledger: Our experienced accountants provide flexible support, either on-site or remotely. We quickly familiarize ourselves with your systems, systematically clear backlogs, and assist you with monthly, quarterly, and annual financial statements. Working alongside your team, we keep your accounting up to date, enabling reliable analysis.
References
What our Clients say
The close collaboration between ECKERT ASSURANCE and WMCF — often in the challenging environment of a target company’s crisis — was always professional and based on partnership, clearly structured, and marked by a high degree of trust. In particular, EA’s in-depth liquidity analysis proved to be a key component of a successful investor process. It provides transparency during critical phases and offers precisely the certainty that investors need to make informed decisions.
Florian S. Schmidt, Managing Partner at WMCF GmbH, Munich
The team at ECKERT ASSURANCE, led by Hendrik Mysegades and Frederik Brandes, is there when you need them — fast, straightforward, and precise with the right expertise.
Christian Gerstenberger, Managing Director at SAMASCH AG i.A., Salzgitter-Bad
