Siemens 2007 Annual Report Download - page 316

316 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
39 Remuneration
The Compensation Report outlines the principles used for determining the com-
pensation of the Managing Board of Siemens AG and sets out the level and struc-
ture of Managing Board remuneration. In addition, the report describes the poli-
cies and levels of compensation paid to Supervisory Board members and gives
details of stock ownership by members of the Managing and Supervisory Boards.
The Compensation Report is presented within the Corporate Governance
Report, included in this Annual Report for fi scal year 2007, beginning on page 92.
40 Principal accountant fees and services
Fees related to professional services rendered by the Company’s principal accoun-
tant, KPMG, for the fi scal years 2007 and 2006 were as follows:
In the above table, “audit fees” are the aggregate KPMG fees for professional
services in connection with the audit of the Company’s annual consolidated fi nan-
cial statements and their attestation and report concerning internal control over
fi nancial reporting, opening balance sheet audits, reviews of interim fi nancial
statements, as well as audits of statutory fi nancial statements of Siemens AG and
its subsidiaries. “Audit-related fees” are fees for due diligence engagements
related to acquisitions and carve-outs, including consultation in accounting mat-
ters, post-closing audits, carve-out audits and attestation services in the context
of carve-outs,, accounting advice on actual or contemplated transactions or
events, advice on the introduction and review of new or revised accounting guide-
lines and requirements, training regarding accounting-related topics, advice on
the transition to accounting according to IFRS or US GAAP, advice in the fi eld of
fi nancial risk management, comfort letters, employee benefi t plan audits, SAS 70
reports, IT system audits that are not part of the annual audit, attestation services
subject to regulatory requirements, including regulatory advice, work related to
the investigation by the state prosecutor’s offi ce and Debevoise & Plimpton, attes-
tation and audits in connection with the European Community Directive on Waste
Electrical and Electronic Equipment, audits in connection with liquidation and
insolvency issues, attestation of compliance with provisions or calculations
required by agreements, agreed-upon procedures engagements in accordance
with applicable standards and voluntary audits and reviews of stand-alone fi nan-
Year ended
September 30,
2007 2006
Type of Fees
Audit Fees 55.3 55.0
Audit-Related Fees 18.4 17.1
Tax Fees 4.8 5.1
All Other Fees 8.5 10.3
Total 87.0 87.5