Mercedes 2015 Annual Report Download - page 188

D | CORPORATE GOVERNANCE | CORPORATE GOVERNANCE REPORT 195
Shares and share transactions by Board of
Management and Supervisory Board members
As of December 31, 2015, the members of the Board of
Management held a total of 0.25 million shares or options on
shares of Daimler AG (0.024% of the shares issued). On
the same date, the members of the Supervisory Board held a
total of 0.02 million shares or options on shares of Daimler AG
(0.002% of the shares issued).
Risk management and financial reporting
Risk management at the Group
Daimler has a risk management system E pages 138 ff
commensurate with its size and position as a company with
global operations. The risk management system is one
component of the overall planning, controlling and reporting
process. Its goal is to enable the company’s management
to recognize significant risks at an early stage and to initiate
appropriate countermeasures in a timely manner. The Super-
visory Board deals with the risk management system in partic-
ular with regard to the approval of the operational planning.
The Audit Committee discusses at least once a year the
effectiveness and functionality of the risk management system
with the Board of Management and the external auditors.
In addition, the Audit Committee regularly deals with the risk
report. The Chairman of the Supervisory Board has regular
contacts with the Board of Management to discuss not only
the Group’s strategy and business development, but also
the issue of risk management. The Internal Auditing depart-
ment monitors adherence to the legal framework and
Group standards by means of targeted audits and initiates
appropriate actions as required.
Accounting policies
The consolidated financial statements of the Daimler Group
are prepared in accordance with the International Financial
Reporting Standards (IFRS), as adopted by the European
Union, and with the supplementary standards to be applied
according to Section 315a Subsection 1 of the German
Commercial Code (HGB). Details of the IFRS are provided
in this Annual Report in the Notes to the Consolidated
Financial Statements.
E Note 1 of the Notes to the Consolidated Financial State-
ments. The annual financial statements of Daimler AG, which is
the parent company, are prepared in accordance with the
accounting standards of the German Commercial Code (HGB).
Both sets of financial statements are audited by a firm of
accountants elected by the Annual Shareholders’ Meeting to
conduct the external audit.
Interim reports for the Daimler Group are prepared in accor-
dance with IFRS for interim reporting, as adopted by the Euro-
pean Union, as well as with regard to the interim management
reports prepared in accordance with the applicable provisions
of the German Securities Trading Act (WpHG). Interim finan-
cial reports are reviewed by the external auditors elected by
the Annual Shareholders’ Meeting.
Corporate governance statement
The corporate governance statement to be issued pursuant
to Section 289a of the German Commercial Code (HGB) is
published simultaneously with the Annual Report including
the Corporate Governance Report at w
daimler.com/dai/dsr
and can be accessed there.