Mercedes 2012 Annual Report Download - page 179

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4 | Corporate Governance | Corporate Governance Report
Risk management and financial reporting
Risk management at the Group. Daimler has a risk manage-
ment system commensurate with its size and position as a
company with global operations. E see pages 125 ff 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 Supervisory Board deals with the risk management
system in particular with regard to the approval of the oper-
ational planning. The Audit Committee discusses at least once
a year the effectiveness, functionality and appropriateness
of the risk management system 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 state-
ments 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 Consol-
idated Financial Statements. E see note 1 of the Consolidated
Financial Statements. The annual financial statements of
Daimler AG, which is the parent company, are prepared in accor-
dance 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, the applicable provisions of the German Securities
Trading Act (WpHG). Interim financial 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 simultaneously published along with the Annual Report
including the Corporate Governance Report at
w daimler.com/corpgov/en and can be accessed there.
Directors’ dealings (pursuant to Section 15a of the German Securities Trading Act (WpHG)) in the year 2012
Date Name Function Type and place of transaction Number Price Total volume
12/12/ 2012 Prof. Dr.
Heinrich Flegel
Member of the Supervisory Board Sale of new shares, Frankfurt 8,000 €39.78 €318,240
12/12/ 2012 Prof. Dr.
Heinrich Flegel
Member of the Supervisory Board Acquisition of shares
through exercise of options
(over the counter)
8,000 €34.40 €275,200
07/ 30/ 2012 Andreas Renschler Member of the Board of Management Acquisition of shares,
Frankfurt
3,970 €39.54 €156,974
7/ 26/ 2012 Andreas Renschler Member of the Board of Management Sale of new shares, Frankfurt 37,000 €37.25 €1,378,250
7/ 26/ 2012 Andreas Renschler Member of the Board of Management Acquisition of shares
through exercise of options
(over the counter)
37,000 €34.40 €1,272,800
7/ 30/ 2012 Prof. Dr.
Thomas Weber
Member of the Board of Management Acquisition of shares,
Frankfurt
12,290 €39.55 €486,070
7/ 26/ 2012 Prof. Dr.
Thomas Weber
Member of the Board of Management Sale of new shares, Frankfurt 115,000 €37.25 €4,283,750
7/ 26/ 2012 Prof. Dr.
Thomas Weber
Member of the Board of Management Acquisition of shares
through exercise of options
(over the counter)
115,000 €34.40 €3,956,000
7/ 26/ 2012 Dr. Dieter Zetsche Chairman of the Board of Management Acquisition of shares,
Frankfurt
13,000 €37.91 €492,830
7/ 26/ 2012 Dr. Dieter Zetsche Chairman of the Board of Management Sale of new shares, Frankfurt 250,000 €37.25 €9,312,500
7/ 26/ 2012 Dr. Dieter Zetsche Chairman of the Board of Management Acquisition of shares
through exercise of options
(over the counter)
250,000 €34.40 €8,600,000
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