Feasibility and requirements of supervision in Iran and Germany joint stock companies with emphasis on BaFin's financial reporting and supervision mechanism.
Subject Areas : Journal of Law and Politicstahereh shokri 1 , mansor atashneh 2 , alireza mazlumrahni 3
1 - PhD Student in Private Law, Islamic Azad University, Qeshm Branch, Iran
2 - Faculty of Law and Political Science, Shahid Chamran University, Ahvaz, Department of Law
3 - Department of Persian Language and Literature, Shahr-e-Qods Branch, Islamic Azad University, Tehran, Iran.
Keywords: stock companies, Iranian law, German law, Baffin supervisory mechanism,
Abstract :
The current research was carried out with the aim of assessing the feasibility and requirements of supervision in Iranian and German joint-stock companies with an emphasis on BaFin's financial reporting and supervision mechanism. In Germany, the implementation of financial reporting in Germany has been restructured. In this way, from the beginning of 2022, Bafin, as the only regulatory body, is responsible for reviewing the financial statements of public companies. The findings of the research indicate that the supervision of joint stock companies with an emphasis on the rights of shareholders in the legal system of Iran and Germany based on the legal philosophy of the two countries has common foundations, but in terms of the procedure and the way companies operate in German law with Paying attention to the 2017 Corporate Governance Law and BaFin's regulatory mechanism has distinctive features in line with the ownership rights of shareholders and the rights of shareholders. Baffin will have the authority to intervene directly if suspicious cases are discovered in the accounting of companies. If the suspected case is serious, this institution can investigate the matter carefully using the necessary techniques (judicial, legal). The results of the research show that supervision in companies is facing structural challenges such as new financial and legal mechanisms, such as the silence of Iran's laws regarding the determination of the supervisor's relationship with the company, the determination of explicit rules in the field of subtle supervision
