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Annual Report

Risk management

In our daily work, we focus on carefully managing potential risks to the Company. To this end, we have implemented a risk management system that helps us to identify risks and optimize existing risk positions. We continually adapt this system to changes in the operating environment. We provide extensive details of how the system works in the Risk Report, where you will also find a description of our accounting-related internal control system.

The Supervisory Board has established an Audit Committee, which deals in particular with accounting issues, risk management, including the internal control system, and compliance. Its tasks also include supervising the required independence of the auditors, the engagement of the auditors, the definition of areas of emphasis of the audit and the agreed fee. As recommended in article 5.3.2 of the German Corporate Governance Code, the Chairman of the Audit Committee, Dr. Ferdinand Oliver Porsche, has particular expertise and experience in the application of financial reporting principles and internal control systems.

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