Audit of social security balance sheet items during the year

The importance of auditing social security balance sheet items during the year

As a trust company, we know how crucial a careful and regular review of balance sheet positions is. Social insurance in particular deserves special attention here. Why is this so important and how do we go about it?

Why check during the year?

Social insurance covers a wide range of contributions and benefits that are of great importance to both employers and employees. An audit of the corresponding balance sheet items during the year offers several advantages:

- Liquidity management: Close monitoring of social security contributions helps to better manage the company's liquidity and avoid unexpected financial bottlenecks.
- Compliance: Compliance with legal regulations and deadlines is essential. Annual audits ensure that all legal requirements are met continuously and that no unnecessary resources are involved during the hot declaration phase.
- Early fault detection: Through regular checks, errors or discrepancies can be identified and corrected at an early stage. This prevents major problems at the end of the year.

Our audit approach

When examining social security balance sheet positions, we take a systematic approach:

- Data reconciliation: We compare the reported data with actual payments and contributions. Any deviations are investigated immediately.
- Documentation: All relevant documents and supporting documents are carefully checked and documented. This includes both proof of contributions and notifications to social security institutions.
- Communication: In the event of discrepancies, we immediately contact the relevant authorities to provide clarity and find solutions.
- Reporting: Our customers receive regular reports on the status of the audits and any measures that have been taken.

conclusion

The annual audit of social security balance sheet items is an essential part of effective financial management. It not only helps prevent errors and secures liquidity, but also ensures that all legal requirements are met. As a trust company, we support our customers in completing these important tasks reliably and efficiently.

Contact us if you want to introduce and optimize the monitoring during the course of the year.

Your MKY Treuhandpartner GmbH

Disclaimer: The content of this blog post is for informational purposes only and does not constitute professional advice.
Each individual case should be reviewed individually and we recommend that you seek professional advice for specific questions.