The consolidated financial statements of PCC SE as of December 31, 2022 have been prepared in accordance with the provisions of the International Financial Reporting Standards (IFRSs) of the International Accounting Standards Board (IASB) and the interpretations of the International Financial Reporting Standards Interpretations Committee (IFRS IC) as applicable on the closing date and as adopted in the European Union (EU), and in supplementary compliance with the statutory disclosure requirements specified in Section 315e (1) HGB (German Commercial Code).
The consolidated financial statements are prepared within the PCC Group in a multi-stage process using standardized consolidation software supplied by the company insightsoftware Deutschland GmbH. The pre-consolidated financial statements of individual subsidiaries, duly audited by their own auditors, are incorporated by the holding company within the consolidated financial statements. Responsibility for advice and support with respect to the consolidation system, for the consolidation chart of accounts standardized across the Group, and for implementation of the consolidation adjustments, lies with PCC SE. The companies incorporated within the consolidated financial statements are required to adhere to standard accounting and financial reporting guidelines. These also specify the recognition and valuation principles to be applied in compliance with the provisions of IFRSs.
All the companies included in the consolidated financial statements are provided with a binding, uniform calendar of due dates for the preparation of their financial statements and completion of the associated audits. Both automated and manual controls are integrated throughout the drafting and preparation process. Procedural rules ensure that all business transactions and the preparation of the annual financial statements are recorded, processed and documented in full, promptly, accurately and with correct period allocation. Before final submission to PCC SE, a quality-assuring review process is performed within the subsidiaries of the PCC Group by their own executive bodies or with direct involvement of the management. This internal procedure concludes with a formal written confirmation of the system’s effectiveness, together with a signed release of the financial statements of the individual companies or subgroups and related information for incorporation in the consolidated financial statements.
