Mercedes 1999 Annual Report Download - page 76

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STATEMENT BY THE BOARD OF MANAGEMENT
70
The accompanying consolidated financial statements
(consolidated balance sheets as of December 31, 1999 and
1998, consolidated statements of income, cash flows and
changes in stockholders’ equity for each of the financial
years, 1999, 1998 and 1997) were prepared in accordance
with United States generally accepted accounting principles
(US GAAP).
In order to comply with Section 292 a of the HGB (German
Commercial Code), the consolidated financial statements
were supplemented with a consolidated business review
report and additional explanations. Therefore, the
consolidated financial statements, which have to be filed
with the Commercial Register and published in the Federal
Gazette, comply with the Fourth and Seventh Directives of
the European Community. For the interpretation of these
directives we relied on the statement by the Committee for
Accounting Directives, which has also been approved by the
European Commission and the German Federal Department
of Justice.
With the introduction of the euro effective January 1, 1999,
we changed over our internal and external reporting to
euros and therefore also prepared the consolidated financial
statements and the consolidated business review report in
euros, including the figures for prior years.
The consolidated financial statements and the consolidated
business review report as of December 31, 1999 prepared in
accordance with Section 292 a of the HGB (German
Commercial Code) and filed with the Commercial Register
in Stuttgart under the number, HRB 19 360, will be
provided to shareholders on request.
P R E L I M I N A R Y N O T E
The Board of Management of DaimlerChrysler AG is
responsible for preparing the accompanying financial
statements.
We have installed effective controlling and monitoring
systems to guarantee compliance with accounting principles
and the adequacy of reporting. These systems include the
use of uniform guidelines group-wide, the use of reliable
software, the selection and training of qualified personnel,
and regular reviews by our internal auditing department.
With a view to the requirements of the German Business
Monitoring and Transparency Act (KonTraG) we have
integrated the Group’s early warning systems into a risk
management system. This enables the Board of Manage-
ment to identify significant risks at an early stage and to
initiate appropriate measures.
S T A T E M E N T B Y T H E B O A R D
O F M A N A G E M E N T
KPMG Deutsche Treuhand-Gesellschaft Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft audited the consolidated
financial statements, which were prepared in accordance
with the United States generally accepted accounting
principles, and issued the following auditors’ report.
Together with the independent auditors, the Supervisory
Board’s Financial Audit Committee examined and discussed
the consolidated financial statements including the business
review report and the auditors’ report in depth.
Subsequently, the entire Supervisory Board reviewed the
documentation related to the financial statements.
Robert J. Eaton Jürgen E. Schrempp Manfred Gentz