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Hybrid financial instruments are used as part of short-term or long-term investment strategies, for financing or for speculative purposes. Compared to traditional financial instruments, they are much more complex. It is precisely this complexity that inevitably leads to consequences for both the preparation of the financial statements and the audit of the financial statements.
From preparation-perspective of the financial statements, the accounting of hybrid financial instruments is one of the greatest challenges under the German Commercial Code and the IFRS. According to both sets of rules, the embedded derivative component must be separated from its host contract under certain circumstances, so that the hybrid instrument is accounted either uniform or separately. In this thesis, the accounting rules for such instruments are subjected to a critical analysis according to both sets of rules and compared with one another.
For the auditor, on the other hand, due to the complexity of these instruments, the audit area of the financial instruments is associated with an increased audit risk. Here the thesis shows a possible procedure for the audit of hybrid financial instruments. The aim of the audit is to obtain a trustworthy judgement that the accounting and disclosure of structured financial instruments is in accordance with the applicable accounting regulations. This is done with the help of sufficient and appropriate audit evidence.
keywordsBetriebswirtschaft Bilanzierung Finanzinstrumente HGB IFRS IFRS 9 Prüfung Rechnungslegung Rechnungslegungsziele Rechnungswesen Strukturierte Finanzinstrumente
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