Audi 2006 Annual Report Download - page 172

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General information
AUDI AG has the legal form of a German share-issuing company (Aktiengesellschaft). Its
registered office is in Ettinger Strasse, Ingolstadt, and it is entered in the Commercial Regis-
ter in Ingolstadt under HR B 1.
Around 99 percent of the share capital of AUDI AG is held by Volkswagen AG, Wolfsburg,
with which a control and profit transfer agreement exists. The consolidated financial state-
ments of AUDI AG are included in the consolidated financial statements of Volkswagen AG,
which are deposited with the Local Court of Wolfsburg.
The object of the company is the development, production and sale of motor vehicles,
other vehicles and engines of all kinds, together with their accessories, as well as machin-
ery, tools and other technical articles.
AUDI AG prepares its consolidated financial statements on the basis of the International
Financial Reporting Standards (IFRS) and the interpretations of the International Financial
Reporting Interpretations Committee (IFRIC). All pronouncements of the International Ac-
counting Standards Board (IASB) where application is mandatory have been observed. The
prior-year figures have been calculated according to the same principles.
The income statement is prepared according to the internationally practised function of
expense method.
The consolidated financial statements provide a true and fair view of the financial per-
formance and financial position of the Audi Group.
The requirements pursuant to Section 315a of the German Commercial Code regarding
the preparation of the consolidated financial statements in accordance with IFRS, as appli-
cable within the EU, are met.
Over and above the disclosure obligations pursuant to IFRS, the particulars and notes re-
quired under German commercial law are published.
Effects of new or revised standards
Standard/
Interpretation
Mandatory from Adopted by EU
Commission*
Effects
IFRS 6 Exploration for and evaluation of mineral resources Jan. 1, 2006 yes none
IAS 21
The Effects of Changes in Foreign Exchange Rates –
Net Investment in a Foreign Operation
Jan. 1, 2006 yes none
IAS 39
Financial Instruments: Recognition and Measurement
and IFRS 4 Insurance Contracts – Financial guarantee
contracts Jan. 1, 2006 yes none
IAS 39
Financial Instruments: Recognition and Measurement:
cash flow hedge accounting and fair value hedge
accounting Jan. 1, 2006 yes none
IFRIC 4 Determining Whether an Arrangement Contains a Lease Jan. 1, 2006 yes no significant
IFRIC 5
Rights to Interests Arising from Decommissioning,
Restoration and Environmental Rehabilitation Funds Jan. 1, 2006 yes none
IFRIC 6
Liabilities arising from Participating in a Specific
Market – Waste Electrical and Electronic Equipment Dec. 1, 2005 yes none
* At December 31, 2006.
Primary accounting basis