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Corporate Governance | Corporate Governance Report | 165
Risk management, financial reporting and transparency
Risk management at the Group. Daimler has a risk manage-
ment system commensurate with its position as a company with
global operations (see pages 104 ff.). The risk management
system is one component of the overall planning, controlling and
reporting process. Its goal is to enable the Company’s manage-
ment to recognize significant risks at an early stage and to initiate
appropriate countermeasures in a timely manner. The Supervi-
sory Board deals with the risk management system in particular
with regard to the approval of the operational planning. The
Audit Committee discusses at least once a year the effectiveness,
functionality and appropriateness of the risk management sys-
tem with the Board of Management and the external auditors. In
addition, the Audit Committee deals with the risk report once
each quarter. 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 Corporate Audit department monitors
adherence to the legal framework and Group standards by means
of targeted audits and initiates appropriate actions as required.
Accounting principles. 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 State-
ments (see Note 1). 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 external
auditors.
Transparency. We maintain close contacts with our sharehold-
ers in the context of comprehensive investor relations activities.
We regularly inform our shareholders, financial analysts, share-
holder associations, the media and the interested public about the
situation of the Group and any significant changes in its business
(see pages 24 f).
We have posted an overview of all the significant information dis-
closed in the year 2010 on our website at www.daimler.com/ir/
annualdoc10.
Irrespective of deregistering Daimler’s shares from the United
States Securities and Exchange Commission (SEC) and ending
our listing on the New York Stock Exchange in 2010, the Com-
pany will continue to maintain a high standard of transparency in
its financial reporting.
Fair disclosure. All new facts that are communicated to financial
analysts and institutional investors are simultaneously also
made available to all shareholders and the interested public. If any
information is made public outside Germany as a result of the
regulations governing capital markets in the respective countries,
we also make this information available without delay in Ger-
many in the original version or at least in English. In order to ensure
that information is provided quickly, Daimler makes use of the
Internet and other methods of communication.
Financial calendar. All the dates of important disclosures
(e.g. annual reports and interim reports) and the date of the Annual
Shareholders’ Meeting are announced in advance in a financial
calendar. The financial calendar can be seen inside the rear cover
of this annual report and on our website at www.daimler.com/ir/
calendar.
Integrity
Integrity Code. The Integrity Code is a set of guidelines for
behavior, which has been in effect since 1999 and was revised in
2003, defining a binding framework for the actions of all our
employees worldwide. Among other things, the guidelines define
correct behavior in international business and in any cases of
conflicts of interest, questions of equal treatment, proscription
of corruption, the role of internal control systems and the duty
to comply with applicable law as well as other internal and exter-
nal regulations. The Principles of Social Responsibility are also
a component of the Integrity Code. In those principles, Daimler
expresses its commitment to internationally recognized human
rights and employee rights. Daimler expects all of its employees
to adhere strictly to the provisions of the Integrity Code.
The full text of the Integrity Code is posted on our website at
www.daimler.com/dai/guidelines.
Code of Ethics. We introduced our Code of Ethics in July 2003.
This code addresses the members of the Board of Management
and persons with special responsibility for the contents of financial
disclosure. The provisions of the code aim to prevent mistakes by
the persons addressed and to promote ethical behavior as
well as the complete, appropriate, accurate, timely and clear
disclosure of information on the Group. The wording of the Code
of Ethics can be seen on our website at www.daimler.com/dai/
guidelines.