Porsche 2009 Annual Report Download - page 111

ing data. The upside of residual market values is not
taken into account when making provisions for risks.
More information on residual value risk and
other risks in the financial services business, such as
counterparty, market and liquidity risk, can be found
in the 2009 annual report of Volkswagen Financial
Services AG.
IT risk
At Volkswagen, a global company geared to-
wards further growth, the information technology (IT)
used in all divisions group-wide is assuming an increas-
ingly important role. IT risks may occur as a result of
unauthorized access to sensitive electronic corporate
data and information, limited availability as a conse-
quence of systems failure, or natural disasters. The
Volkswagen group addresses the risk of unauthorized
access to corporate data by using firewall and intru-
sion prevention systems as well as virus scanners. It
achieves additional protection by restricting the allo-
cation of access rights to systems and information
and by keeping backup copies of critical data re-
sources. Permanent availability and the security of the
systems are ensured through professional operation
of the IT facilities, for which the Volkswagen group
uses technical resources that have been tried and
tested in the market – in keeping with the standards
applicable throughout the company. By implementing
redundant IT infrastructures the Volkswagen group
hedges risks that could occur in the event of a natural
disaster.
The intensity and sophistication of attacks on
IT systems and data resources increases as Volks-
wagen’s importance as a multinational corporation
grows. This is why Volkswagen continuously takes
measures against identified and anticipated risks dur-
ing the software development process, when protect-
ing the IT infrastructure and also in the allocation of
access rights to systems and data resources.
Rapid technical advancement has created a
residual risk, especially regarding the threat to IT se-
curity, which cannot be managed completely.
Other factors
Going beyond the risks already outlined,
there are other factors that cannot be predicted and
are therefore difficult to manage. Should these tran-
spire, they could have an adverse effect on the fur-
ther development of the Volkswagen group. These
factors include natural disasters, epidemics and ter-
ror attacks.
Overall statement on the risks faced by the
Volkswagen group
The Volkswagen group’s overall risk situation
results from the specific risks shown above. The
Volkswagen group’s comprehensive risk management
system ensures that these risks are controlled. On the
basis of the information currently available, there are
no risks that could pose a threat to the continued ex-
istence of the Volkswagen group.
111