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ARTICLE · 24 NOVEMBER 2021

Changes For Registered AIFMs – Audit Obligation (Already For 2021)

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For financial years beginning after 31 December 2020, registered AIFMs will be subject to new auditing obligations.

GermanyAccounting and Audit
Tobias Lochen
Tobias Lochen
Robert Eberius
Robert Eberius
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Executive Summary

For financial years beginning after 31 December 2020, registered AIFMs will be subject to new auditing obligations.

As a result of amendments to the KAGB, registered AIFMs will be required to appoint an auditor to audit their annual financial statements and management report within nine months following the end of each financial year and to submit the results to BaFin. In addition, the auditor has to verify the compliance of the registered AIFM with the obligations and provisions of the Money Laundering Act (GWG) and to state this separately in the audit report.

The Act to Further Strengthen Investor Protection ( Gesetz zur weiteren Stärkung des Anlegerschutzes), which partially came into force on 17 August 2021, included several amendments to the German Capital Investment Act (KAGB). The amendments affect, in particular, AIFMs required to be registered pursuant to Section 2 (4) KAGB.

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