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Certification of CP-CONS

As from the middle of July 2006, a fourth product in the CP portfolio has received certification from a well-known auditing company. The consolidation software CP-CONS® Version 1.5 was subjected to in-depth testing according to the specifications of the Institute of Auditors in Germany (IDW) Audit Standard PS 880 "Award and use of software certificates".

CP-CONS
Display of the consolidation companies

CP-CONS is a consolidation tool which is used for preparing and analysing consolidated financial statements. The software guides the user systematically through the entire consolidation process. The necessary processing functions and the programmed processing rules, which include the following consolidation steps, were examined using the test scenario method: unification of the individual company accounts, currency translation and preparation of the financial statements according to group accounting policy, elimination of inter-company investments, liabilities, expenses and income, profits and losses, and accounting for deferred taxes.

CP-CONS is thus certified as being capable, when used properly, of generating consolidated financial statements for groups and subgroups which conform to generally accepted accounting principles, statutory accounting regulations and the standards of the Institute of Auditors in Germany (IDW).

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