Audi 2014 Annual Report Download - page 10

dation and signed o the Annual and
Consolidated Financial Statements
prepared by the Board of Management.
The Annual Financial Statements are
thus established.
There was the following change within
the Company’s Board of Management
in the past fiscal year : Dr. Hubert Waltl
was appointed Member of the Board
of Management of AUDI AG with respon-
sibility for the Production division with
eect from April , . His predecessor,
Dr. Frank Dreves, resigned from oce at
his own request at the close of March ,
. The Supervisory Board would
particularly like to thank him for 
suc cessful years in a variety of roles at
Audi and other Group companies,
both in Germany and internationally.
The Board of Management has suitably
taken account of the economic envi-
ronment and future challenges when
making its plans. It, along with the
entire Audi team, will remain resolutely
on its path of qualitative growth and
will work hard at building on the strong
competitive positions already achieved
by the Audi, Lamborghini and Ducati
brands. The Supervisory Board will
continue to assist the Board of Manage-
ment actively and constructively with
implementing this growth strategy in
the future.
Ingolstadt, February , 
were the expansion of the Audi pro-
duction network worldwide along with
the recruitment of personnel that this
necessitates, the qualification of the
workforce and challenges arising in the
area of procurement.
The members of the Supervisory Board
had the opportunity to view, actively
explore and gather detailed information
on future models and technologies at
a vehicle presentation.
In approving the plans for human
resources, financial and investment
measures, the Supervisory Board
pro vided further confirmation of the
Board of Management’s strategic
decisions and thus restated its support
on the way to becoming the world’s
leading pre mium brand.
At its fourth ordinary meeting during the
past fiscal year, the Supervisory Board
together with the Board of Management
routinely determined the content of the
Declaration of Compliance in accordance
with Section  of the German Stock
Corporation Act (AktG).
All Supervisory Board members were
present at more than half of the meet-
ings. The average attendance rate
in the past fiscal year was just under
 percent. The members of the Presiding
Committee held full consultations before
each meeting. The Negotiating Commit-
tee did not need to be convened in .
The Audit Committee met once per
quarter in the past fiscal year. At its
meetings, this committee considered
the Annual and Consolidated Financial
Statements for  together with
other topics such as risk management as
well as compliance and auditing work.
In addition, the Audit Committee scruti-
nized the  Interim Financial Report
prior to its publication and discussed
its contents with the Board of Manage-
ment and representatives of the audit-
ing firm. The Audit Committee also
advised on the independence of the
auditor, the findings of additional audits
commissioned, and the situation of the
Company at the end of .
Prof. Dr. Dr. h. c. mult.
Martin Winterkorn
Chairman of the Supervisory Board
Upon the proposal of the Supervisory
Board, the Annual General Meeting
of AUDI AG appointed Pricewaterhouse-
Coopers Aktiengesellschaft Wirtschafts-
prüfungsgesellschaft as auditor of the
accounts for the  fiscal year. The
Supervisory Board awarded the audit
assignment to the auditing firm after
its election. The auditor of the accounts
confirmed the Annual Financial State-
ments of AUDI AG, the Consolidated
Financial Statements as well as the Com-
bined Management Report of the Audi
Group and AUDI AG for the  fiscal
year, and in each case issued its un-
qualified certification.
The members of the Audit Committee
and Supervisory Board received the
documentation for the Annual and Con-
solidated Financial Statements, together
with the corresponding audit reports
by the auditor, in advance of their meet-
ing on February , . The auditing
firm’s representatives explained the key
findings of their audit in detail at the
meetings of the Audit Committee and
Supervisory Board, and then answered
queries from members of both bodies.
According to information supplied by
the auditing firm, there were no circum-
stances that might give cause for
concern about the auditor’s partiality.
Following examination of the audit
documents received and in-depth
dis cussions with the auditing firm’s
representatives, and based on its own
conclusions, the Audit Committee
rec ommended to the Supervisory Board
at the meeting on February , 
that the Annual and Consolidated Finan-
cial Statements each be signed o.
After appropriate discussions, the Super-
visory Board accepted this recommen-
Prof. Dr. Dr. h. c. mult. Martin Winterkorn
“The entire Audi team delivered a strong
performance again in 2014 and continues
to be fully focused on achieving the goals
of Strategy 2020.”
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