Audi 2015 Annual Report Download - page 279

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
ADDITIONAL DISCLOSURES
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As of December 31, 2015 there were guarantees totaling EUR
259 (129) million in favor of associated companies, joint ven-
tures and non-consolidated subsidiaries. The possibility of a
claim arising from contingencies is not anticipated. Irrevocable
credit commitments to non-consolidated subsidiaries total
EUR 94 (149) million.
All business transactions with related parties have been con-
ducted 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 sup-
plies for production and supplies of genuine parts, as well as
development, transportation, financial and distribution services,
and, to a lesser extent, design 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.
The Audi Group’s cash funds are in large part loaned to or
invested in the Volkswagen Group. All transactions are pro-
cessed under market conditions.
Members of the Boards of Management or Supervisory Boards
of Volkswagen AG, Wolfsburg, and AUDI AG also belong to the
supervisory or management boards of other companies with
which the Audi Group maintains business relations. All transac-
tions with such companies and persons 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 333 (304) thousand were provided to the
German State of Lower Saxony and to companies in which the
State of Lower Saxony holds a majority stake, and goods and
services amounting to a total value of EUR 20 thousand (none
in the previous year) were received from them. No claims ex-
isted in the fiscal year (previous year: EUR 18 thousand).
A list of the supervisory board mandates of members of the
Board of Management and Supervisory Board of AUDI AG is
presented in the 2015 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 34 (162) thousand were rendered to this
group of individuals during the fiscal year. As in the previous
year, the Audi Group did not receive services of this group of
individuals in this fiscal year. In addition, no claims existed (pre-
vious year: EUR 21 thousand). Details of the remuneration paid
to the members of the Board of Management and Supervisory
Board of AUDI AG, can be found under Note 50 “Details relating
to the Supervisory Board and Board of Management.” The em-
ployee 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.
47 / AUDITOR’S FEES
EUR thousand 2015 2014
Auditing of the financial statements 1,101 998
Other assurance services 275 251
Tax consultancy services 10 7
Other services 422 642
Auditor’s fees 1,808 1,898
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.
48 / SEGMENT REPORTING
The segmentation of business activities is based on the internal
management and reporting of the Company in accordance with
IFRS 8. The decision-making body for both segments with
regard to the allocation of resources and the valuation of prof-
itability is the full Board of Management.