Chapter

 Corporate Financial Reporting and Regulation in Germany

George J. Benston, Michael Bromwich, Robert E. Litan and Alfred Wagenhofer

in Worldwide Financial Reporting

Published in print March 2006 | ISBN: 9780195305838
Published online February 2006 | e-ISBN: 9780199783342 | DOI: http://dx.doi.org/10.1093/0195305833.003.0006
  Corporate Financial Reporting and Regulation in Germany

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Germany has a very different regulatory tradition from the other countries covered in this book. This chapter explains the origins, current status, and recent changes of the German financial reporting environment and relevant related institutions. It describes in detail financial disclosure for listed and for non-listed companies, the legislative and regulatory environment, investor protection, corporate governance, auditing, and enforcement. It closes with a discussion of shortcomings and recent legislative actions to provide remedies.

Keywords: Germany; GAAP; generally accepted accounting principles; GASC; German Accounting Standards Committee; tax conformity rule; conservatism; corporate governance; enforcement

Chapter.  12619 words. 

Subjects: Financial Markets

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