IDW Standard: Principles of the Preparation of Fairness Opinions (IDW S 8)

Wichtiger Hinweis: Bei diesem Titel handelt es sich um eine Broschüre, die nach Eingang Ihres Auftrages in der bestellten Stückzahl für Sie gedruckt wird. Gewöhnlich wird das Produkt innerhalb von 3 bis 5 Werktagen an Sie versandt. Bitte beachten Sie, dass dieser Artikel deshalb von der Rückgabe ausgeschlossen ist. Es besteht - auch für Verbraucher - kein Widerrufsrecht. IDW Standard: Principles of the Preparation of Fairness Opinions (IDW S 8) This IDW Standard sets forth the principles according to which public auditors issue statements on the financial fairness of transaction prices in entrepreneurial initiatives (fairness opinions) developed in theory and practice. It defines the requirements, content and limits of fairness opinions for typical situations and the typical restrictions under which public auditors issue fairness opinions. Fairness opinions are professional statements on the result of a decision-making process, especially on the financial fairness of a transaction price. Typically, fairness opinions are requested for entrepreneurial initiatives which are frequently characterized by time constraints and restricted access to information. Fairness opinions are not an instrument for determining business values as defined by IDW S 1 . A fairness opinion under this IDW Standard is not a substitute for legally prescribed fairness reviews and their underlying valuations, e.g., in cases of Secs. 304 and 305 AktG ["Aktiengesetz€: German Stock Corporation Act] or Sec. 9 et seq. UmwG ["Umwandlungsgesetz€: German Reorganization Act]. Chapters 2 and 3 address the definitions relating to fairness opinions and the key aspects of engagement acceptance and content. Chapter 4 deals with the information, benchmarking and approach used in preparing fairness opinions, distinguishing between sales and acquisitions. Chapter 5 defines the reporting and documentation requirements. Chapter 6 discusses the specific requirements of fairness opinions when the management board and supervisory board of target companies issue statements (Sec. 27 WpÜG ["Wertpapiererwerbs- und Übernahmegesetz": German Securities Acquisition and Takeover Act]) on public acquisition and takeover bids.