Audi 2015 Annual Report Download - page 206

CORPORATE GOVERNANCE REPORT
RISK MANAGEMENT // COMMUNICATION AND TRANSPARENCY
206 >>
In addition to ongoing operational risk management, the
central GRC organization, as the second line of defense, safe-
guards the fundamental functioning of the Risk Management
System and Internal Control System. Its principal activities
include carrying out an annually standardized survey in the
divisions and principal subsidiaries around the world. The
results of this survey form the basis for reporting, aggregated
on a Group-wide basis, on the risk situation and the effective-
ness of the systems to the Board of Management and Supervisory
Board. The central GRC organization additionally keeps the Audit
Committee of the Supervisory Board comprehensively in-
formed about the RMS/ICS. As the third line of defense, Inter-
nal Audit supports the Board of Management with the task of
monitoring the subsidiaries and divisions of AUDI AG.
In response to the diesel issue, the Board of Management has
commissioned additions to the risk management process in
the Audi Group. These include for instance deeper risk analyses
with an increase in the reports submitted to the Board of
Management on current risks topics. Furthermore, the risk
culture is to be refined through such measures as additional
training and counseling options. The powertrain type approval
process has also been reviewed from a risk and control per-
spective. This approach is being gradually broadened to in-
clude other risk areas.
Detailed explanations on the Group-wide risk man-
agement system and in-depth information on the
Internal Control System for financial reporting can be
found in the “Report on risks and opportunities” on
p
ages 189 ff.
COMMUNICATION AND
TRANSPARENCY
Transparency and maintaining an open dialogue are essential
components of our corporate communications. For this rea-
son, all key publication dates as well as the date of the Annual
General Meeting of AUDI AG are listed in our financial calen-
dar. It is available for public consultation at any time on our
website at www.audi.com/financialcalendar.
We publish the invitation to and the agenda for the Annual
General Meeting, as well as any countermotions received, at
www.audi.com/annualgeneralmeeting. We publish supple-
mentary information for our shareholders at www.audi.com/
investor-relations. Registered shareholders may exercise their
voting rights in person at the Annual General Meeting. Alter-
natively, they may choose to have their rights exercised by
their chosen proxy or using a proxy appointed by the Company
and bound by their instructions. We offer an Internet-based
system for issuing and canceling powers of attorney or
for making changes to instructions at www.audi.com/
annualgeneralmeeting. On this page, registered shareholders
may also view the live broadcast of the Annual General Meet-
ing up to the end of the general discussion.
Under Section 15 of the German Securities Trading Act (WpHG),
all domestic issuers of financial instruments are obliged to
publish and disclose insider information that has a direct bear-
ing on them without delay. This regulation is intended to pre-
vent insiders from using advance knowledge to trade shares
to their advantage. This information is published as ad hoc
announcements by the Company on the Internet at
www.audi.com/investor-relations in the “News and ad hoc
announcements” section, under the menu item “Ad hoc an-
nouncements.” “News and ad hoc” also contains further news
and information about the Audi Group, reporting of voting
rights according to Sections 21 ff. of the German Securities
Trading Act (WpHG) and other legal issues. The notices and
information published there are also available in English.
Communications relating to share dealings by management
members pursuant to Section 15a of the German Securities
Trading Act (WpHG) can also be accessed at
www.audi.com/investor-relations in the “Corporate Governance”
section under the menu item “Directors’ dealings.”