The Department of Professional Practice (DPP) performs central quality assurance tasks for the service audit. The DPP supports a uniform professional assessment of the matters to be audited.
With the DPP, KPMG has a central specialist department in Germany with regard to all relevant topics of accounting in accordance with the German Commercial Code (HGB) and IFRS as well as auditing in accordance with German and international auditing standards. This is where all accounting and auditing threads come together, both "top-down" and "bottom-up".
Identified problems are solved uniformly, quickly and reliably in exchange with the audit teams. Ongoing new regulations are presented to audit teams and clients in a timely and problem-related manner. The DPP is thus an indispensable component of quality assurance and a point of contact for offering our clients a high quality of service. In addition, the DPP is involved in KPMG initiatives with regard to ongoing national or European standardisation processes.
The staff of the DPP are outstanding experts in the field of HGB and IFRS accounting and have specialised knowledge of audit methodology as well as many years of industry-related experience in auditing financial statements under commercial law. Regular rotation of most of the staff also ensures a balanced exchange between the DPP and the audit teams and a broadening of the professional excellence on site.
The staff of the DPP are also intensively involved in the ongoing discussions of international and national experts on the further development of accounting and auditing. DPP staff are at the forefront of the opinion-forming process, both in numerous committees and in leading professional publications, and can provide early indications of emerging developments.
In the case of engagements for companies of public interest as well as other engagements with increased risk, an engagement-related quality assurance is carried out by an Engagement Quality Performance Review Partner (EQCRP) and/or a 2nd Line of Defence Review (2LoD).
In addition, we are subject to the legally prescribed external quality control by another auditing firm on a regular basis and, with regard to our clients in the public interest within the meaning of 316a HGB, to the annual inspection by the Auditor Oversight Authority (APAS).
Independently of this, annual internal reviews of compliance with KPMG's quality assurance system take place at both practice and engagement level.
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