Audit and confirmation of the statutory auditor

(1) The annual financial statements and the management report of the domestic issuer of asset investments, and of the issuer of asset investments with its seat outside the Member States of the European Union and the other contracting states to the Agreement on the European Economic Area, must be audited by a statutory auditor in accordance with the provisions of the Third Subdivision of the Second Division of the Third Book of the Commercial Code. The annual financial statements and the management report must bear the auditor's certificate or a certificate of refusal of confirmation. The annual financial statements and the management report of issuers of asset investments with their seat in another Member State of the European Union or in another contracting state to the Agreement on the European Economic Area must be audited by a statutory auditor under the equivalent audit provisions applicable there for corporations.
(2) The statutory auditor must, in its audit, also establish whether the issuer of the asset investments has complied with the provisions of a partnership agreement or trust relationship underlying the asset investments.
(3) For asset investments within the meaning of section 1(2) nos. 1 and 2, the allocation of profits, losses, income and withdrawals to the individual capital accounts must be examined by the statutory auditor and their propriety confirmed. This also applies where the asset investment is held for the investor by a trustee.
(4) Where the issuer of the asset investments has its seat in another Member State of the European Union or another contracting state to the Agreement on the European Economic Area, it must attach to the annual report an additional confirmation of the statutory auditor in German (section 23(2) no. 4), stating
1. that the documents under section 23(2) nos. 1 and 2 are annual financial statements and a management report applicable to corporations, drawn up under the national law of the state of seat, and audited by a statutory auditor,
2. that the requirements of section 24(3), third sentence in conjunction with subsection (1), third sentence, or the requirements of section 24(3), fourth sentence, are satisfied, and
3. that the documents under section 23(2) are complete overall.