FRANKFURT: Our addVALUE experts for company valuations experienced an intensive exchange of experiences on September 5, 2024 in the Main metropolis Frankfurt at the invitation of the IDW Academy. From regular inquiries, our specialists are familiar with the desire of small and medium-sized companies for a cost-effective valuation. Methodologically, the IDW S1 “Principles for the Performance of Business Valuations” is usually used as the valuation standard. However, SMEs regularly come up against limits in terms of providing the data required to apply IDW S1.
More than 20 participants intensively discussed possible solutions or alternatives. We would therefore also like to thank WP CVA Dr. Lars Franken (photo right), who patiently answered our questions from practitioners and was also available to take a photo with our colleague (photo, left).
A summer evening for the medium-sized businesses in the Leipzig region from BVMW Leipzig Economic Region (Leipzig City + District + North Saxony) [BVMW Wirtschaftsregion Leipzig (Stadt+Landkreis Leipzig+Nordsachsen)] at Gut Kahnsdorf on Lake Hainer.
Our Partner W. Holger Schmidt (photo, right / German Public Accountant) took advantage of the opportunity and was able to make new contacts and maintain our existing regional network.
My thanks to Manuela Luther (photo in the middle) from Weddingvillage, who usually makes wedding parties happy at this location, and Michael Odenthal (photo on the left) from querifai in Munich for new insights into data analytics.
DRESDEN: A successful evening in the historical ambience of the Deutsches Hygiene-Museum with engaging speakers on interesting and current topics. Many thanks to the team from WMS Wachstumsfonds Mittelstand Sachsen.
Food for thought from the presentations was provided by our colleague W. Holger Schmidt:
Short and concise Mr. Martin Dulig (left photo) Sächsisches Staatsministerium für Wirtschaft, Arbeit und Verkehr (Saxon State Ministry of Economic Affairs, Labour and Transport)
Frank Bösenberg from Silicon Saxony (I was impressed by the first-hand information about the cluster and I am delighted for Dresden and Saxony)
Sybille Sonntag with Kulturhauptstadt Europas Chemnitz 2025 gGmbH (Promoted Chemnitz with commitment and a passionate presentation and whetted the appetite for 2025).
Prof. Michael Paul with insights and outlooks on the annual Bach Festival in LEIPZIG REGION and the message that life without Bach is possible but pointless.
I owe good conversations after the lectures in particular to:
Dr. Marcus Haberstroh (photo above, right) as Managing Director of SpinLab – The HHL Accelerator; Olaf Horlbeck (photo above, middle) who is a committed candidate for a mandate in the Saxon state parliament (Sächsischer Landtag) and who, as a master carpenter and designer in the skilled trades, stands up for sustainability and Daniel W. Flade (thanks for the photo above, right!) a professional colleague from Chemnitz committed to quality with a focus on the restructuring of companies and Sebastian Skoda.
LEIPZIG: We focus on knowledge and skills. Our application as addVALUE audit&tax Wirtschaftsprüfungsgesellschaft as a practice partner of the BA-Saxony was successful. After receiving the certificate, we are now pleased to be able to follow this path together with a candidate for 3 years.
Interested parties for the start dates 2024, 2025 and 2026 are cordially invited to get to know us.
Contact address: schmidt@value-wp.de
HANNOVER: We are delighted to report on our participation in the German Foundation Day 2024 in Hanover. This significant event, organized by the Federal Association of German Foundations, was a great success and provided us with numerous valuable insights into current developments and challenges in the foundation sector.
Deepening Our Expertise in the Foundation Sector
Our expert in accounting and advisory services for foundations attended this congress with enthusiasm. The Foundation Day, under the motto “In the Midst: How Foundations Shape Transformation,” focused on the diverse aspects of foundation work in a changing society.
Inspiring Key Events
We were particularly excited about the following sessions:
The presentation on the use of Artificial Intelligence in foundation work was a real highlight. It impressively demonstrated how AI, particularly systems like ChatGPT, can revolutionize efficiency and accuracy in foundation work.
Our Goals and Value for Our Clients
Our goal was to gain first-hand insights into the challenges and best practices in foundation work. The knowledge gained from the congress is invaluable for providing tailored advice to our clients.
We received valuable information on energetic and economic requirements for construction and renovation measures, as well as the importance of compliance in foundation work—topics that are of central importance to many of our clients.
Networking and Future Collaborations
The congress offered excellent networking opportunities. We established numerous new contacts and deepened existing relationships, which helps us stay ahead of the curve and develop innovative solutions for our clients.
Conclusion and Outlook
Our participation in the German Foundation Day 2024 was a great success and has further deepened our understanding of the current and future challenges in the foundation sector. We are excited to incorporate these new insights into our daily work to continue serving our clients at the highest level.
Our special thanks go to the Federal Association of German Foundations for the excellent organization. We are already looking forward to future events that will further strengthen and deepen our expertise.
LEIPZIG: The supposedly rather “dry” topic of ESG reporting brought experts together on Thursday and resulted in a challenging exchange on current top compliance issues and solutions that managing directors regularly have or are looking for. In addition to the requirements of ESG reporting, these include data protection regulations, information security requirements, industry-specific IT security requirements and compliance with the requirements of the Money Laundering Act.
The consultants from jurcons Beratungs- und Informations GmbH & Co. KG, Leipzig, with managing director and lawyer Hagen Albus, have many years of experience as lawyers, primarily in the fields of information technology and labor law. On request, they can act as external data protection, money laundering or information security officers for companies. addVALUE audit&tax GmbH Wirtschaftsprüfungsgesellschaft can act in particular as auditors in connection with sustainability information. As part of the implementation of processes to fulfil reporting obligations, many advantages of an interdisciplinary team were recognized and a concrete implementation was prepared.
BERLIN: An energetic and successful start to the week. The climate-friendly return journey by train from Berlin to Leipzig gives us time to reflect. Not only about the good fortune of being able to use one of the last trains before the next wave of strikes, but also about the diverse and complex issues surrounding the topic of energy. More than 10 years after the founding of the energy network at the BBH Group in Berlin, today’s conference was a highlight of this platform. My thanks to the organizers, moderators and the Academy of the Konrad Adenauer Foundation as host as well as the convincing speakers such as Julia Friedlander from the Atlantikbrücke e.V. or Andreas Jung as climate and energy policy spokesman of the CDU/CSU parliamentary group, to name a few.
In our view, what has changed in the network discussion in the last 12 years?
1. the view of the topic is becoming much more international.
2. the problems and framework conditions have become increasingly unfavorable.
3. bureaucratic obstacles and nonsense are increasingly being discussed.
4. the number of participants from operating companies involved in energy generation, storage, transportation and consumption has unfortunately decreased.
January 22, 2024: The latest update to the Saxon Foundation Act will result in changes as of December 31, 2023. The background to this was the desire of the Saxon legislature to repeal state law regulations in the wake of amended provisions of the German Civil Code (BGB) and to regulate foundation civil law uniformly.
What does this mean in concrete terms for foundations in Saxony? In future, non-tax-privileged foundations will have to provide evidence in the form of a report on the fulfillment of the foundation’s purpose and an external audit report. According to the law, this audit report can also be prepared by us as an independent auditing company.
At present, the supervisory authorities in Saxony are already assuming an audit obligation for 2023. But even here, changes are apparently not impossible. We are monitoring developments in this regard.
Students from Mittweida University of Applied Sciences and experts from Leipzig financial institutions met in Leipzig on 30 November 2023.
The Leipziger Volksbank, with Andreas Woda on its Board of Directors, facilitated this meeting of young academics and experienced bankers from the region of Volksbank, Commerzbank AG with Thomas Gillmeister, the team of CFH Management GmbH with Claudia Huke and insolvency administrator Prof. Dr. Christoph Alexander Jacobi.
Initiator W. Holger Schmidt of addVALUE implemented an idea as a lecturer for the students, which ended with a highly positive response from all stakeholders and, according to the students in feedback discussions, increased the relevance of this industry for their career entry.
LEIPZIG: When was the last time you tried to determine the weight of a load of sand, gravel or soil? This becomes necessary, for example, if these materials are to be loaded onto a trailer and during the subsequent weighing the permissible total weight exceeds by a factor of 3.
In the world of auditing, versatility is the key to success in determining quantities. A solid understanding of mathematical concepts, especially about bodies and length of edges, coupled with physical knowledge of density, is crucial.
We’re not just juggling with numbers. We are interdisciplinary thinkers and problem solvers. The ability to combine mathematical principles with physical knowledge enables us to make accurate assessments and precise analyses. This variety allows us to look beyond the box and accompany our clients in the inventory process at eye level.
For companies looking for auditors, it is vital to know that our interdisciplinary capabilities contribute significantly to the precision and depth of our services. By understanding mathematical and physical concepts, we can not only determine quantities, but also provide deeper insights to help your business succeed or prevent miscalculation.
As auditors (m/f/d), we know life “out of a suitcase” only too well from our assignments with clients on site. Of course, it is a different situation when the entire firm is ready to leave and looking forward to the upcoming move.
AddVALUE audit&tax GmbH Wirtschaftsprüfungsgesellschaft has been operating from its location at Rudower Chaussee 29 for a good five years. Over the past five exciting years, we have established ourselves as a visible provider of tax consultancy and auditing services in the Berlin Adlershof Science and Technology Park and beyond. As the addVALUE audit&tax group, we have been represented by addVALUE audit&tax Leipzig GmbH Wirtschaftsprüfungsgesellschaft in the two most important business locations in eastern Germany – Berlin and Leipzig – since April 2022. Overall, we have now reached a size in the Group of just under 20 employees that is pushing the Berlin location to its limits. In order to lay the foundation for further growth, we will significantly expand our spatial capacities with the upcoming move and look forward to welcoming our employees, clients, friends and supporters to our new premises soon.
We will be moving into our new location with an office floor in a prestigious landmark building – the BRAIN BOX BERLIN (https://mueller-reimann.de/projekte/brain-box-berlin) and will soon be based at Eisenhutweg 116.
More practical relevance in studies: This is a matter close to our hearts, for addVALUE and in particular auditor and banking specialist (IHK) W. Holger Schmidt as a lecturer at the University of Applied Science Mittweida. For this reason, he is looking forward to experiencing practical relevance with students of business administration in the specialization “Special Banking Management” in a completely different format on 30 November 2023. For an entire day, students have the opportunity to engage in a personal exchange with “real” bankers, ask questions, listen to keynote speeches and present their own case study. At the invitation of Andreas Woda, board member of Volksbank Leipzig, and with the cooperation of Wachstumsfonds Mittelstand Sachsen (WMS), managers and executives from various institutions will focus on the importance of corporate financing for companies and financial institutions.
