(expert report): Mr. Fiala, you have looked at the contributions to the costs of the annual audit in the epn forum. How do you interpret the enormous price differences?
RA Johannes Fiala): The prices are certainly regularly related to the auditor’s efforts. If pools offer such tests for an apple and an egg, I can only suspect a subsidy as the reason for this. Usually the prices are in the three-digit range.
(expert report): Who is allowed to perform such tests. What are the consequences of a violation?
(RA Johannes Fiala): If the agent only (!) brokers real estate, housing or loans, then the examination can also be carried out by a “limited suitable examiner”, for example a RA or StB. Otherwise, only auditors and sworn auditors are authorised to accept the audit. If the regulations are violated, the business license may be revoked.
(expert report): How does such an audit work in practice? What should be presented?
(RA Johannes Fiala): In principle, the business letters, all documents relating to the products offered (see the experten.de CD-ROM), as well as the bank statements of the banks must be submitted. This may go so far as to include a review of the trader’s insurance cover, including the suitability
(expert report): What happens if the audit report is not submitted, not correct, not complete or not submitted on time, or if a statement mentioned therein is not submitted, not correct or not submitted on time?
(RA Johannes Fiala): This is treated as an administrative offence according to the trade regulations (GewO); usually with a fine of up to 2,500 Euros. If the conduct – after an overall view of all circumstances, also taking into account proportionality – proves to be an expression of unreliability according to § 35 GewO, a trade ban can also be imposed.
(expert report): Thank you for this information
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About the author
PhD, MBA, MM
Dr. Johannes Fiala has been working for more than 25 years as a lawyer and attorney with his own law firm in Munich. He is intensively involved in real estate, financial law, tax and insurance law. The numerous stages of his professional career enable him to provide his clients with comprehensive advice and to act as a lawyer in the event of disputes.
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