BMW 2013 Annual Report Download - page 13

members of the Supervisory Board in a timely manner. At the meeting held on 5 March 2014, these docu-
ments
were examined and discussed in detail by the Audit Committee. The Supervisory Board subsequently
examined these documents at its meeting on 13 March 2014, after hearing the committee chairman’s report
on the meeting of the Audit Committee. In both meetings, the Board of Management gave a detailed
expla-
nation of the financial reports it had prepared. Representatives of KPMG attended both meetings, reported
on significant findings and answered any additional questions raised by the members of the Supervisory
Board. They also confirmed that the risk management system established by the Board of Management is
capable of identifying any events or developments that might impair the going-concern status of the Com-
pany
and that no material weaknesses in the internal control system and risk management system were
found with regard to the financial reporting process. Similarly, they confirmed that they had not identified
any facts in the course of their audit work that were inconsistent with the contents of the Declaration of
Compliance issued jointly by the two boards.
Based on thorough examination by the Audit Committee and the full Supervisory Board, we concurred
with the results of the external audit. In accordance with the conclusion reached after the examination by
the Audit Committee and Supervisory Board, no objections were raised. The Group and Company Financial
Statements of Bayerische Motoren Werke Aktiengesellschaft for the financial year 2013 prepared by the
Board of Management were approved at the Supervisory Meeting held on 13 March 2014. The separate finan-
cial statements have therefore been adopted.
Both in the Audit Committee and in the full Supervisory Board, we examined the proposal of the Board
of Management to use the unappropriated profit to pay a dividend of € 2.60 per share of common stock and
€ 2.62 per share of non-voting preferred stock. Taking account of the financial condition of the BMW Group,
we consider the proposal appropriate and concur with it.
Expression of appreciation by the Supervisory Board We are well aware that the motivation of our em-
ployees and their strong sense of identification with the BMW Group are key factors for its success and future
prospects. We wish to express our appreciation to the members of the Board of Management and the entire
workforce worldwide for their hard work and valuable contribution towards the successful financial statements
for the year ended 31 December 2013.
Munich, 13 March 2014
On behalf of the Supervisory Board
Joachim Milberg
Chairman of the Supervisory Board
13 REPORT OF THE SUPERVISORY BOARD