Siemens 2013 Annual Report Download - page 245

253 D. Consolidated Financial Statements
357 E. Additional Information
245 C. Compensation Report, Corporate Governance
statement pursuant to Section a of the
German Commercial Code, Takeover-relevant
information and explanatory report
246 C. Siemens AG ( Discussion on basis of
German Commercial Code)
250 C. Notes and forward-looking statements

In addition, we have set up a Disclosure Committee – compris-
ing selected heads of Corporate Units – which is responsible
for reviewing certain financial and non-financial information
prior to publication.
The Supervisory Board, through the Audit Committee, is also in-
tegrated into our control system. In particular, the Audit Com-
mittee oversees the accounting process, the effectiveness of the
control system, the risk management system and the internal
audit system, and the independent audit of financial statements.
In addition, it conducts an audit of the documents related to the
Stand-alone Financial Statements of Siemens AG and the Consol-
idated Financial Statements and discusses the Stand-alone Fi-
nancial Statements of Siemens AG, the Consolidated Financial
Statements and Combined Management Report of these state-
ments with the Managing Board and the independent auditors.
Through audits on a continuous and Siemens wide basis our
internal corporate audit function monitors compliance with
our guidelines and the reliability and functional operation of
our control system as well as the adequacy and effectiveness
of our risk management system.
In addition we have rules for accounting-related complaints
and a Code of Ethics for Financial Matters.
ADDITIONAL INFORMATION RELATED TO THE
STAND-ALONE FINANCIAL STATEMENTS
OF SIEMENS AG (GERMAN COMMERCIAL CODE)
Siemens AG as the parent company of the Siemens Group is
integrated into the company-wide accounting-related internal
control system described above. Generally, the information set
out above also applies for Stand-alone Financial Statements
of Siemens AG prepared in accordance with the German
Commercial Code.
The Consolidated Financial Statements are prepared in accor-
dance with IFRS. Where required, i.e., for purposes of prepar-
ing statements for local regulatory or tax purposes, data is ad-
opted in accordance with relevant regulations by means of
reconciliation at account level. Accordingly, accurately deter-
mined IFRS closing data also forms an important basis for the
Stand-alone Financial Statements of Siemens AG. In the case
of Siemens AG and other group companies required to prepare
financial statements in accordance with German Commercial
Code, the conceptual framework described above is comple-
mented by our mandatory German Commercial Code closing
guidelines and a German Commercial Code chart of accounts.
The manual and system-based control mechanisms referred to
above generally also apply when reconciling the IFRS closing
data to the Stand-alone Financial Statements of Siemens AG.
C.10 Compensation Report, Corporate Governance statement
pursuant to Section a of the German Commercial Code,
Takeover-relevant information and explanatory report
The Compensation Report outlines the principles underlying
the determination of the total compensation of the members
of the Managing Board of Siemens AG, and sets out the struc-
ture and level of the remuneration of the Managing Board
members. It also describes the policies governing and levels of
compensation paid to Supervisory Board members. The Com-
pensation Report is an integral part of the Combined Manage-
ment Report and is presented in B. COMPENSATION REPORT.
The Corporate Governance statement pursuant to Section
a of the German Commercial Code is an integral part of
the Combined Management Report and is presented in B.
CORPORATE GOVERNANCE STATEMENT PURSUANT TO SECTION A OF
THE GERMAN COMMERCIAL CODE.
The Takeover-relevant information (pursuant to Sections 
para.  and  para.  of the German Commercial Code) and
explanatory report are an integral part of the Combined
Management Report and are presented in B. TAKEOVER-
RELEVANT INFORMATION (PURSUANT TO SECTIONS  PARA.  AND 
PARA.  OF THE GERMAN COMMERCIAL CODE) AND EXPLANATORY REPORT.