Bilanzrechtsmodernisierungsgesetz

The German Bilanzrechtsmodernisierungsgesetz (short: BilMoG) is a German accounting law reform act usually first applied in fiscal year 2010.^[1] It emphasizes that the supervisory board has to (1) guarantee the effectiveness internal control system of a firm, (2) check the internal audit function and (3) evaluate the risk management system.

BilMoG
Germany
Long title Bilanzrechtsmodernisierungsgesetz
Enacted	2010
Summary
Emphasizes that the supervisory board has to (1) guarantee the effectiveness internal control system of a firm, (2) check the internal audit function and (3) evaluate the risk management system