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  • Industries

Automotive

Automotive

Climate change, e-mobility, digitalization, connectivity and autonomous driving - manufacturers and their supplier industry are putting a great deal of effort into trying to meet these challenges and the new global players that have entered the market. Budgets for in-house research and development are being increased and focused, new companies are being bought and existing segments of the Automotive companies are being sold or adapted to the expected demand. The entire industry has set itself the goal of successfully mastering this transformation and emerging stronger from this phase of change.

In addition, new, predominantly digital, mobility services are constantly emerging, such as car sharing, ride-hailing, mobility-as-a-service, air cabs, B2C sales channels in automotive retail and much more. These will significantly change the mobility of the future and thus the business models in the automotive industry.

Energy Sector

Energy Sector

The entire energy sector is subject to profound change. Market liberalisation and re-municipalisation, the expansion of the internal European market, the growing share of renewable energy, decentralisation of production, high cost pressure and ambitious climate change targets are the drivers of this change. They pose unprecedented economic and technical challenges for grid operators and suppliers. At the same time, they offer market players unprecedented opportunities. Fierce competition between the various energy suppliers and grid operators will continue in the coming years. In the face of increasingly dynamic funding and regulatory systems, the business models are also subject to severe transformation and adjustment pressure.

At our Industry Expertise Centre for the Energy Sector, experts from our three divisions – auditing, tax and consulting services – are available to help you with bespoke auditing and consulting services for the tasks that you face. To be able to meet your individual requirements here, we compose interdisciplinary teams of experienced specialists to reflect the task in hand: auditors, tax consultants, lawyers, economists, engineers and IT professionals.

Financial Services

Financial Services

In the last few years, the regulation of financial markets has produced an unprecedented tide of legislative initiatives. To respond appropriately to these developments, teams of financial sector experts from BDO member firms have joined forces to form the Global Financial Services Group. Headquartered in Germany, the Global Financial Services Sector Group has created an opportunity to represent our clients' interests vis à vis supervisory authorities and legislators on a global level with a unique offer and quick and professional response to cross-border issues.

The new group is an addition to the EU Banking Union Desk established by BDO in 2014, which supports European institutions in meeting the specific requirements of the EU banking union.

Following current regulatory requirements, we can provide focused qualified teams for the following sectors:

  • Credit institutions
  • Financial services institutions
    • Leasing and factoring companies
    • Providers of investment services
  • Payment services
  • Property management | Capital management companies and investment funds
  • Intermediaries of financial investments

In addition, our employees possess the methodological expertise required for auditing and consulting in the areas of audit and assurance, out-/co-sourcing audit, risk and compliance, tax, and legal and consulting as well as fintech and digital transformation.

 Financial Services Insurance

Financial Services Insurance

Professional support

BDO has bundled support for insurers and reinsurers as well as provident funds, statutory health insurers and insurance brokers in an Industry Expertise Centre for Insurance. As a result, we are able to offer ideal interdisciplinary teams.
Our many years of experience and the excellent professional qualification of our industry-oriented and continuously trained employees form the basis for the quality of our work. 

A trusting and professional relationship with our clients is important to us: we therefore assign each client a central expert contact, the client service partner, who advises you whatever your questions may be, and coordinates your concerns. Our teams regularly have a high proportion of experienced professionals.

Our company is represented on major professional committees and has access to the latest issues, which we in turn discuss with our clients in order to develop solutions. For example, we offer optimisation of risk management structures in the sense of MaRisk and preparation for Solvency II. In addition, valuation of insurance policies and insurance stocks is one of our core competencies.

Beyond this, we regularly hold client events, where current issues are taken up and discussed with practical relevance.

Auditing and consulting for statutory health insurers requires additional specialisation; we do justice to this through a special division within the Industry Expertise Centre with a special training programme. This is where we are currently handling projects for the conversion of financial accounting to commercial accounting and offering support for mergers; we are also focusing on new solutions in risk management and controlling.

Service portfolio of the Industry Expertise Centre for Insurance

The general performance spectrum includes:

For private insurance providers

  • Auditing
  • Internal auditing
  • Audit-related consultancy
  • Special tax consultancy
  • Advisory

For statutory health insurance providers

  • Auditing of the annual financial statements
  • Auditing of business management
  • Data analysis

 Healthcare management

Healthcare management

Constant changes in health and social services and the constantly increasing pressure to achieve profitability are making change a growing challenge for management. Maintaining and increasing competitiveness requires new ideas and concepts, anticipatory action, flexible organisations and management structures and a lean value creation process.

In our top-selling healthcare industry centre, we can offer you the support of a variety of experts, such as accountants, tax consultants and lawyers, to help you with tailor-made audit and advisory for your upcoming projects.

Trade and Consumer Goods

Trade and Consumer Goods

The boundaries between traditional and online trading are continuing to dissolve. New digital business models are pushing onto the market in increasingly shorter innovation cycles, and not all of them can assert themselves. Like in almost no other industry, process innovation drives opportunities in the industry: multichannel platforms, Web controlling, e-targeting and e-commerce solutions are being integrated into the existing business models across the board. To the same extent that the new revenue and distribution models gain momentum, the specific requirements to be met by the enterprise also grow – for example, when tracking rapidly fluctuating commodity and customer flows, managing smart supply chains or protecting the data generated on customers. The successful integration of the virtual world with the ‘real’ world therefore remains the biggest challenge the industry faces.

The Industry Expertise Centre for Trade and Consumer Goods is made up of specialists from our auditing, tax and business law and advisory divisions. Our experts with years of experience in this field permanently focus on current and future trends and receive industry-specific training. In this, we can make sure that our team is always up to date and provides the best possible support for your concerns in line with your requirements.

Transport and Logistics

Transport and Logistics

Delivering goods to their destinations faster, more reliably and at a lower cost than competitors: This is what characterises transport quality and outstanding logistics. And international competition is decided by these factors.

The industry is facing great challenges: fluctuating energy costs and actions in the field of environmental protection continue to exert pressure on costs. New technologies make the flow of goods more dynamic. Physical processes are being replaced by digitised and networked business processes. Tracking of goods via electronic signals and sensors is becoming increasingly pervasive. Identification systems such as RFID (radio frequency identification) are now standard in transport and logistics.

What were previously complex logistics processes are handled in seconds via data interfaces. This also means accelerating the supply chain, necessitating further process optimisation of transport capacities. And customers expect goods tracking in real time. These challenges necessitate innovative logistics solutions.   

Digital delivery notes and improved returns management are just a few areas in which the use of IT will continue to grow. More technology in the warehouse or the use of augmented reality with pick-by-vision models are further steps to boost productivity, drive rationalisation and save costs. Smart investment in new, digital solutions is the key to success in the industry. This is the only way to safeguard or expand one’s own position in the face of increasing local and international competition.

At our Industry Expertise Centre for Transport and Logistics, a variety of experts, such as accountants, tax consultants and lawyers, are available to support you with tailor-made audit and advisory for your upcoming projects. In addition to auditing and audit-related services, tax consultancy and legal/economic consultancy, this also includes a variety of offerings in the field of advisory.

Public Companies and Administration

Public Companies and Administration

Efficiency, effectiveness, transparency and citizen-friendliness are the main objectives of public authorities and their enterprises. To sustainably achieve this target, continuous observation of the current issues at all levels of decision-making is required.

Our experts have extensive industry expertise and practical experience in these crucial subject areas to be able to support you professionally, competently and with tailor-made solutions.

BDO offers versatile services and consultancy services: Procurement and aid, organisational consulting, managing (civil) wind farm projects, IT consulting, project risk management, tax and business law consultancy, engineering and environmental consultancy, budgeting, cash management and accounting.

At our Industry Expertise Centre for Public-Sector Enterprise and Administration, a variety of experts, such as accountants, tax consultants and lawyers, are available to support you with tailor-made audit and advisory for your upcoming projects.

Real Estate

Real Estate

Thanks to the relatively favorable and stable economic situation in Croatia, the Croatian real estate market attracts large investments from the country and abroad. The demand effect resulting from the low-interest rate environment has led to a significant increase in prices and also an increase in the supply of project development. Our Industrial Expert Center for Real Estate Services offers you tailor-made solutions to overcome the current situation in the real estate market.

The interdisciplinary composition of our team ensures that all issues are professionally processed and developed into a holistic solution. The teams consist of real estate economists, real estate valuers, construction experts, architects, civil and industrial engineers, business economists, geologists, chemists, interior planners, and geographers. Where necessary, additional BDO experts are consulted, such as accountants, tax advisors, lawyers, and IT specialists.

Range of services:

  • Transaction support
  • Deep analysis
  • Tax compliance: continuous tax consulting, financial accounting, and preparation of annual financial statements according to IFRS and other relevant standards
  • Reporting
  • Legal services
  • Appraisal of property value
  • Audit services for construction contractors
  • Risk analysis at the site of pollution and land recycling
  • Assessment of economic efficiency concerning settlement development
  • Advice on inheritance and gift taxes

 Foundations and Non-profit Organisations

Foundations and Non-profit Organisations

The importance of non-profit organisations increases year by year. The range of organisations is diverse and includes welfare institutions, religious and cultural institutions and organisations which collect donations.

The foundation landscape is thus very heterogeneous. The model of the foundation as a legal entity without members is useful for very different purposes. The motives of the donors are also very diverse. Some 95% of foundations enjoy tax privileges. Their purposes are diverse, ranging from regional cultural or sports promotion to social assistance and global development projects. One thing is common to all of them: the subject is often a personal matter for the sponsor, and the sponsor puts a lot of heart and soul into it. Foundations that exclusively and directly pursue charitable, benevolent or religious purposes enjoy appropriate tax privileges. The following applies for foundations and other non-profit organisations: the requirements under non-profit law are strict.

In addition, the percentage of family foundations is continually growing. The problem for SMEs of finding a suitable successor leads to many entrepreneurs considering the foundation model. The intent is to leverage the benefits of the foundation model without making the company inflexible. For foundations, it is therefore essential – especially in the early stages – to set the right course; after all, the foundation is intended to last forever, based on its fundamental principle.

BDO specialises in the field of auditing and consultancy for foundations, associations and other non-profit organisations; it has set up a separate Industry Expertise Centre for Foundations and Non-Profit Organisations in which many specialists across various enterprise divisions cooperate. Our Industry Expertise Centre is oriented around both questions of the legal form and subject matter.

Legal-form-related support

  • Foundations
  • Associations
  • Non-profit corporations 

In terms of subjects, the Industry Expertise Centre is concerned with

  • Welfare institutions
  • Religious institutions
  • Cultural institutions
  • Research, educational and scientific institutions
  • Professional associations

Our employees in the fields of auditing, tax consulting, management consulting and legal advice are happy to assist you with all legal and tax issues as well as with your accounting, structure and organisation governance questions. Let’s shape the future together!

Technology, media and telecommunications

Technology, media and telecommunications

Technology is the elementary innovation driver of the coming years. There are few sectors of the economy that are not affected. Cashless payment, self-driving cars, inter-networked goods and the Internet of Things are the immediate future. Identifying new business fields, offering appropriate new services and leveraging the changes to the best possible business effect: these are the decisive factors for a company’s success in this field.

The media industry, as a producer and distributor of content, is currently going through a particularly widespread and sustained upheaval. Classic revenue models are losing their viability. Previous returns are not sufficiently offset by newer approaches. Paid content models cannot absorb the loss of the previously profitable advertising market. New platforms such as Facebook, YouTube and Pinterest are taking traffic away from media companies. The gatekeeper function is gradually being lost. Simultaneously, media consumption is undergoing dramatic change across the board. Younger users almost exclusively access information via the Internet, or surf to new digital platforms from the outset. The mobile industry, with applications for smartphones and other mobile devices, has seen the strongest growth. The development is independent of format or medium.

Digital transformation, due to huge volumes of user data, offers particular opportunities. Big data provides information about interests, likes and dislikes. User targeting, user monitoring and mobile marketing open up numerous new opportunities for converting digital offerings into cash.

In our Industry Expertise Centre for Technology, Media, and Telecommunications, experts from our three divisions – auditing, tax and consulting services – are available to help you with bespoke auditing and consulting services for the tasks that you face. In addition to auditing and audit-related services, tax consultancy and legal/economic consultancy, this also includes a variety of offerings in the field of advisory.
For more information on our global network and our presence in the TMT area, please visit our 
international website.

Coronavirus

Coronavirus

You and your business are moving into a new reality. Your supply chains, your workforce, your sales, and your financial health are affected. You may also need to check that your governance, risk management, and regulatory controls are still fit for purpose. Even if your companies have managed to stay in business and perhaps even expand, you will face new challenges.

As you lead your business and your people through all these changes, you should rethink every aspect of your business, from your business model to your strategy. You will want to review and rebuild your resilience and identify any growth opportunities.

In our Rethink Hub, you'll find plenty of tips and practical guidance to help you rethink the way you work.

How does COVID-19 affect the environment?

The impact of COVID-19 on the environment was varied. Although the pandemic has led to improvements in environmental conditions, there have been other negative effects, some obvious and others less so.

In short, the positive effects are reduced greenhouse gas emissions, improved water quality, reduced noise pollution, improved air quality, and in some cases restoration of wildlife habitats. Negative effects are increased medical waste, haphazard disposal of protective equipment, increased municipal waste, and reduced recycling efforts.

While the world has agreed on an international investigation into the origin, handling, and response to the virus, the results of which are likely to be seen for many years, many have concluded that the cause of the global pandemic is the result of human activity, such as deforestation, animal trade, and increased urbanization. Although medical advances have prevented many epidemics, many speculated that it was only a matter of time before a global pandemic of this magnitude occurred.

COVID-19 has become one of the most widespread zoonoses, leading to 1.5 million deaths in less than a year.

COVID-19 is the latest of several recent zoonotic diseases in humans and shows how human health and nature are closely intertwined. Interaction with nature could expose humans to a range of animal diseases. Namely, about three to four new infectious diseases appear every year, most of which originate from wild animals. Over the past 30 years, approximately 60-70% of new human diseases have been zoonotic in origin. The rise in zoonotic outbreaks is a sign of the breakdown in the relationship between humans and nature and is likely to worsen.

The drastically increasing amount of household and medical waste is one of the key negative outcomes of COVID-19. Coronavirus waste has become a new form of global pollution. Adopted quarantine, isolation, and social distancing led to a corresponding increase in the amount of solid waste from households (15-25%) and a significant increase in the generation of medical waste in healthcare institutions (from 10 to 20 times).

Since the beginning of 2020, a huge amount of disinfectant has been applied to roads, businesses, and residential areas to eradicate the COVID-19 virus. These disinfectants can kill non-target beneficial species and create an ecological imbalance. Many disinfectants and antiseptics, such as hand soap that contains a high percentage of the hormone-disrupting pesticide triclosan (TSC - triclosan turns into dioxin, a highly toxic compound when exposed to sunlight), naturally find their way into our water systems.

Increased waste caused by COVID-19 has also affected waste management (WM) systems. Reduced employment/workers reduced recycling efforts further exacerbating the challenges of general waste collection and disposal. Municipal budgets have been weakened due to increased health care costs and the implementation of social security regulations. Several governments have imposed restrictions on the volume of recycling activities to reduce the risk of contracting the virus.

There were still so many direct and indirect consequences of the COVID-19 pandemic that will be realized in the coming months and even years, but what is visible even in the short term is the urgency for us all to stand up and think about how we can play a role in protecting and rehabilitating the earth's biodiversity which is currently balancing on a knife's edge.

Rebuilding with sustainability in mind will be key to our future prosperity. Below are eight possible strategies that should be considered by all levels of government, business, and community:

Focus on using less energy-intensive industries, cleaner fuels, technology, and building strong energy-efficient policies.

Promoting the use of public transport instead of private vehicles, popularizing public bicycle sharing as environmentally friendly and healthy transport.

Increasing share of renewable energy sources — sun, wind, hydropower, geothermal heat and biomass.

Control of water purification in industrial and communal use, reuse of purified wastewater for road cleaning, toilet flushing, etc.

Introducing new working habits, such as full or partial remote working, as well as promoting a healthy and green way of life in society.

Conducting extensive awareness raising campaigns on proper waste segregation, handling and disposal methods, controlling the disposal of hazardous and infectious medical waste according to WHO guidelines.

Strengthening the practice of ecotourism and promoting a sustainable way of life, cultural preservation and biodiversity conservation.

Active participation of international bodies (UN Environment Program) in the preparation of new policies and coordination of their implementation

BDO is there for you all over the world

Through our global network, we are here for you in 167 countries around the world - even especially during the coronavirus pandemic. On the website of our network, you will find an overview of BDO's services in other countries for questions in an international context, as well as an interactive tool that gives you measurements and contact persons from many countries with one click.

EEG

EEG

Energy-efficient and up-to-date

In the interest of protecting the climate and the environment, the European Union has followed this idea and developed different ideas and approaches in recent years.

As a result of the implementation of the European Energy Efficiency Directive into German legislation, more and more companies now find themselves facing its consequences at the national level.

Important innovations: Mandatory energy audits

According to the new law, all companies that are not small and medium-sized are obliged to carry out an energy audit according to DIN EN 16247-1 in the short term until December 5, 2015. This means that it is necessary to systematically check and analyze the energy consumption and energy consumption of the company to identify energy flows and the potential for improving energy efficiency.

Our expert teams of technical and environmental consultancy consisting of a combination of engineers, scientists, lawyers, auditors, and of course energy consultants support you in carrying out these energy audits, which must be carried out by qualified experts.

Who has this obligation?

Based on the will of the legislator, all 'non-SMEs' are subject to audit.

The definition for determining non-SME is:

"Companies with 250 or more employees, or with less than 250 employees, but with more than EUR 50 million in annual business volume or more than EUR 43 million in annual balance."

Affected businesses include not only large manufacturing companies but also hospitals, retailers, service companies, banks, insurance companies, and all other non-manufacturing companies. Further restrictions have not been defined so far. According to the German federal government, the obligation to perform regular energy audits will affect around 94,000 companies that will be randomly audited by the German Federal Office for Economic Affairs and Export Control.

In case the company is not sure whether it is subject to the obligation to perform the audit as a non-SME, our experts at BDO Legal are the right person to contact. An accurate assessment of whether a company belongs to the affected 'non-SME' group can be quickly checked within the quick check.

Determining SME status through a quick check offers businesses some additional benefits. For example, SMEs can apply for grants from the European Union, while non-SMEs can apply to development banks for subsidies and capital investment grants.

Additional energy-saving options

Operational CO2 emissions are used as metrics and control factors to visualize the CO2 footprint or corporate carbon footprint (CCF) of the business. Numerical simulation of this is the basis of entrepreneurial climate protection. BDO TUC engineers perform these simulations following international standards such as the Greenhouse Gas Protocol or ISO standard 14064.

Based on the corporate carbon footprint, specific energy efficiency measures can be identified and integrated into a tailored climate protection strategy. As a result, a measurable reduction in CO2 emissions related to the business can be achieved.

For energy and waste management companies, technical reviews regarding the provisions of the Renewable Energy Sources Act (EEG) are important considerations. Auditor and engineer reviews help optimize compensation claims and EEG settlements in terms of time. Technical and economic assessment of the task avoids interface losses and ensures improved quality control.