Sekundärkorrigierungen

Sekundärkorrigierungen, a German term, translates to "secondary corrections" and refers to adjustments made to a financial statement or accounting record after the initial closing and publication. These corrections are typically necessitated by the discovery of errors, omissions, or new information that was not available or recognized at the time of the original financial reporting. Unlike primary corrections, which address issues found before the financial statements are finalized, secondary corrections occur post-publication.

The reasons for secondary corrections can be varied. They might stem from a misapplication of accounting standards, a calculation error, or the discovery of fraud. In some cases, new legal or regulatory requirements may also mandate retrospective adjustments. The impact of secondary corrections depends on their materiality. Immaterial errors may not require a restatement, while material errors generally necessitate the revision of previously issued financial statements and, in some jurisdictions, public disclosure of the error and its correction. This process ensures that financial statements accurately reflect the economic reality of a company, maintaining transparency and investor confidence. The principles governing secondary corrections are often detailed within accounting standards like IFRS or GAAP.