Public Oversight by Auditor Oversight Body (AOB)

On 17 June 2016 the Abschlussprüferaufsichtsreformgesetz (APAReG) came into force. Accordingly the term of office of the Auditor Oversight Commission (AOC), which was responsible for the public oversight of Wirtschaftsprüferkammer (WPK) and its members since 2005, expired on 16 June 2016.

Since 17 June 2016 the AOB, which is established at the Federal Office for Economic Affairs and Export Control (BAFA), exercises the public oversight. The public oversight of the AOB comprises duties of WPK according to Section 4 § 1 sentence 1 WPO (Public Accountant Act) related to its members, who are authorised to carry out statutory audits or those who perform audits without authorisation.

The following areas are covered by Section 4 § 1 sentence 1 WPO:

  • Conduct of the nationwide Wirtschaftsprüfer examination (professional examination)
  • Qualification exam (aptitude test) as an auditor for persons qualified as auditors in foreign countries
  • Appointment of auditors
  • Recognition of audit firms
  • Revocation of appointments and withdrawal of recognition
  • Registration
  • Monitoring of continuing professional development (CPD)
  • Disciplinary oversight
  • Quality assurance
  • Issuance of professional principles

The AOB cooperates with the responsible foreign authorities on cross-border oversight cases involving statutory auditors.

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WP/vBP Verzeichnis

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Registration third countries