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Completion or Backoffice one calls the departments of the finance management in credit institutes and industrial enterprises, which are busy with the confirmation and the payment execution of the financial transactions locked by the trade. Completion departments examine whether by the trade by telephone or over Internet locked business by the business partner are confirmed in such a way. They accomplish afterwards to it all payments, which with this business in connection.
For credit institutes the clear functional separation of the completion from trade, account system and monitoring is binding prescribed by the announcement over minimum requirements to the operation of commercial transactions of the credit institutes. To industrial enterprises it is considered as "Best Practice ".
With credit institutes at least the separation of the business processes between trade and completion is for a long time ensured. Today belong the functional separation from trade and completion as well as account system and Risikocontrolling to the so-called "minimum requirements ", which are not placed against credit institutes and without their fulfilment them commercial transactions to operate to be allowed. Minimum requirements are thereby an instrument of the state supervision of the banks, with which the normal organization of the business concern in subranges of the credit institutes are guaranteed. Also within the respective functional areas it must be ensured that during processing by business transactions incompatible with one another activities are implemented by different persons. There are mostly own in each case expiration operational sequence within large credit institutes to completion and trade departments the trade with shares, derivatives financial products or money market instruments even several times, there makes necessary.
These minimum requirements became last in the announcement over minimum requirements to the operation of commercial transactions of the credit institutes of the Federal Supervisory Office for the credit system, which forerunner organization of the BaFin publishes, on 23 October 1995. The up to then valid bank-up-obvious regulations for the foreign exchange and security business, which prescribed the separation from trade and completion, originated from the years 1975 and/or 1980. The first publication was substantially coined/shaped of the insolvency of the Herstatt bank in consequence of foreign exchange speculations thereby.
The 1995 published organizational regulations essentially converted the guidelines for the risk management in the derivative business of the Basler of committee for state supervision of the banks from July 1994. They consider above all to the increasing meaning of the trade within the derivative range and extend the regulations already given to all commercial transactions. Was intensified the functional separation of the trade from the other ranges, which is to be ensured since then functionally and organizational from the other ranges to including the level of the management. Also the minimum requirements from the year 1995 were coined/shaped by the spectacular insolvency of a credit institute. The detailed analysis collapse of the Barings bank in February 1995 had shown that for it among other things the unsatisfactory separation between the ranges trade, completion and monitoring the activities of the Barings dealer nod Leeson made possible, which entailed in the long run the ruin of the bank.
With enterprises, which do not rank among the financial establishments, it was usual long time that the departments, which locked money commercial transactions accomplished also the pertinent exchange. The today usual expiration-organizational partitioning in trade and completion was only established for the 1980er years. Meanwhile it is usually supplemented in large enterprises still by a Finanzrisikocontrolling that the adherence to the risk politics of the enterprise supervises. This development has two causes: On the one hand enterprises began the 1980er for years increasingly to use complex financial instruments as for example Zinsswaps or currency options in the context of their risk management. The risen number of final transactions made the creation of appropriate organizational units meaningful and necessary. In many enterprises were however fraud cases, which made the action need developed meanwhile clear. At the beginning of of 1986 became a fraud case with Volkswagen AG admits, with which for the enterprise active security dealers their employer one betrogen and one did not facilitate for this fraud by a selective division of responsibilities in the finance management. This fraud case led world-wide to the fact that enterprises became conscious their operational Risikens and made as counter measure reorganizations.
After today's understanding it belongs to the general duties to exercise diligence of a management to ensure a sufficient separation between trade and completion by an appropriate organizational list. Both internal audit and chartered accoutants pay attention to the complete conversion of this separation. At the 1. May 1998 into force stepped law as a check and transparency in the division (KonTraG) did not fix this separation, since the legislator let itself be led with the Verabschiedung of the principle that a further adjustment of the enterprise right should be avoided as far as possible. In relation to compellingly legal adjustments one wanted to leave it to the self organization of the enterprises, on the very generally which was demand of the KonTraG "the executive committee has suitable measures to meet to furnish in particular a monitor with it continued the society endangering developments to be early recognized "("ยง91 exp. 2 AktG) to react. Publications after the Verabschiedung of the KonTraG a row, which had the structure and expiration organizations of a finance management with non--financial establishments to the topic, appeared actual. Among the most important publications the theses rank to minimum standard, which were compiled by the working group "KonTraG "of the federation of German Treasurer registered association - they were published among other things in the book the control and transparency law published by Bernd Saitz and franc brown. As minimum claim it was specified there that trade, completion and posting by in each case different persons to be made to have. The separation of the finance management into the three separated organizational ranges trade, completion and Risikocontrolling was called in this publication desirable. At the same time the working group pointed however also thereupon that such a separation is not convertible due to the typical order of magnitude and personnel resources lacking of financial departments with many enterprises. The separation is considered meanwhile as "Best Practice "and is converted with large enterprises.
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