Audi 2012 Annual Report Download - page 258

261
Consolidated Financial
Statements
202 Income Statement
203 Statement of Recognized
Income and Expense
204 Balance Sheet
205 Cash Flow Statement
206 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
208 Development of fixed assets
in the 2012 fiscal year
210 Development of fixed assets
in the 2011 fiscal year
212 General information
218 Recognition and
measurement principles
227 Notes to the Income Statement
233 Notes to the Balance Sheet
244 Additional disclosures
266 Events occurring subsequent to
the balance sheet date
267 Statement of Interests
held by the Audi Group
As of the reporting date, receivables in the amount of EUR 1,104 million and liabilities of
EUR 1,191 million related to Volkswagen Group Services S.A. Also during the fiscal year, goods
and services provided totaled EUR 16 million, with goods and services received amounting to
EUR 11 million.
All business transactions with related parties have been conducted on the basis of international
comparable uncontrolled price methods pursuant to IAS 24, according to the terms that
customarily apply to outside third parties. The goods and services procured from related parties
primarily include supplies for production and supplies of genuine parts, as well as development,
transportation, financial and distribution services, and, to a lesser extent, design, training and
other services. Business transacted for related parties mainly comprises sales of new and used
cars, engines and components, and allocation of cash and cash equivalents in the form of loans,
fixed deposits and overnight deposits.
Members of the Boards of Management or Supervisory Boards of Volkswagen AG and AUDI AG
also belong to the supervisory or management boards of other companies with which the Audi
Group maintains business relations. All transactions with such companies are similarly conducted
according to the terms that customarily apply to outside third parties. In this connection, goods
and services amounting to a total value of EUR 209 (320) thousand were provided to the German
state of Lower Saxony and to companies in which the state of Lower Saxony holds a majority stake.
A full list of the supervisory board mandates of members of the Board of Management and
Supervisory Board of AUDI AG is presented in the 2012 Annual Financial Report of AUDI AG.
The service relationships with the members of the Boards of Management and Supervisory
Boards of Volkswagen AG and AUDI AG were conducted at arm’s length. As in the previous year,
the volume of transactions was low. Overall, services in the amount of EUR 942 (700) thousand
were procured from this group of individuals during the fiscal year, with services in the amount
of EUR 114 (113) thousand being rendered on the part of the Audi Group. Receivables totaled
EUR 44 (21) thousand. For details of the remuneration paid to the members of the Board of
Management and Supervisory Board of AUDI AG, please refer to Note 51, “Details relating to the
Supervisory Board and Board of Management.” The employee representatives employed at
AUDI AG in the Supervisory Board continue to receive their normal salary in accordance with
their employment contract. This is based on the provisions of the German Works Constitution
Act and corresponds to an appropriate remuneration for the function or activity exercised in the
Company. This similarly applies to representatives of executive staff.
AUDI AG and its Group companies primarily deposit their cash funds with the Volkswagen Group
or take up cash funds from the Volkswagen Group. All transactions are processed under market
conditions.
48 Auditor’s fees
EUR thousand 2012 2011
Auditing of the financial statements 900 1,015
Other assurance services 252 243
Tax consultancy services 784
Other services –108
Total 1,158 1,450
Based on the requirements of commercial law, the auditor’s fees include auditing of the
Consolidated Financial Statements and auditing of the annual financial statements of the
domestic consolidated companies.