Porsche 2012 Annual Report Download - page 113

Risk management and early risk warning
According to Sec. 91 (2) AktG in conjunction with
Art. 9 (1) c (ii) Council Regulation (EC)
No. 2157/2001, Porsche SE is required to operate a
risk management and early warning system which
allows the company to identify any risks to the
ability of the company to continue as a going con-
cern at an early stage. The risk management system
of the Porsche SE group was set up to identify at an
early stage any potential risks to the ability of the
group to continue as a going concern as well as any
risks that could significantly and negatively impact
the net assets, financial position and results of
operations of the group and to avoid these by
means of suitable countermeasures that allow the
group to rule out any risks to its ability to continue
as a going concern.
are accounted for only after internal approval. The
accounting processes implemented at Porsche SE
ensure that matters arising from agreements that
are relevant in terms of accounting and subject to
disclosure requirements are identified in full and
presented appropriately in the financial state-
ments. There are authorization and access rules
for the IT systems of relevance for the financial
reporting process.
The internal control system relevant for the
financial reporting process and the guidelines for
Porsche SE and the companies included in the
consolidated financial statements were imple-
mented with the involvement of Porsche SE’s
internal audit function. The accounting-related
internal control system and the guidelines are
subject to appropriateness reviews and are updat-
ed on an ongoing basis.
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