Shareholders can propose that an auditor is appointed by the court if there is reason to believe that:
• The financial statement which is an integral part of the annual report contains undervalued assets or liabilities.
• Annexes to financial statements which are an integral part of the adopted annual report do not contain the prescribed information, or the information is incomplete and the management have not explained the omission to the shareholders. This applies providing the shareholders have requested clarification and that their concerns have been minuted.
Assets are undervalued if they are carried at a figure beneath that at which they should be valued in accordance with the relevant accounting rules or laws, and liabilities are undervalued if they are carried at a higher figure.
The auditor prepares a written report and submits it to the management and the court. Management then submits the report to the Supervisory Board and puts it on the agenda of the next meeting.