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DES - Online Annual Report 2009

My Annual Report

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My Annual Report

Group financial reporting

Further important parts of the internal control system are the Group financial reporting processes, monitoring and controlling of which take place at the level of the Group’s holding company. Group-wide regulations and guidelines ensure the conformity of the consolidated financial statements. Risk management guarantees that any risks that might be contrary to the objective of regulatory compliance are identified early, evaluated, communicated promptly and limited.

The decentralised preparation of Group-relevant reports by the service provider is followed by the aggregation and consolidation of the individual annual financial statements and the preparation of the information for reporting in the notes and Management Report in the accounting department of the holding company, with the aid of the Conmezzo consolidation tool. This is accompanied by manual process controls such as the principle of dual control for the employees charged with ensuring the regularity of financial reporting and for the Executive Board. The auditor of the consolidated financial statements is included in the Group’s control environment with process-independent auditing activities. In particular, the audit of the consolidated financial statements and focused audits within the framework of the preliminary audit of the annual financial statements constitute material process-independent monitoring measures with respect to the Group financial reporting process.

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