Siemens 2007 Annual Report Download - page 322

322 Statement of the Managing Board
Statement of the Managing Board
The Managing Board of Siemens Aktiengesellschaft is responsible for preparing the follow-
ing consolidated fi nancial statements and management’s discussion and analysis.
Siemens employs extensive internal controls, company-wide uniform reporting guide-
lines and additional measures, including employee training and continuing education, with
the intention that its fi nancial reporting is conducted in accordance with accepted account-
ing principles. The presidents and chief fi nancial offi cers (CFOs) of the Groups as well as the
presidents and CFOs of the Siemens companies have confi rmed to us the correctness of the
fi nancial data they have reported to Siemens’ corporate headquarters and the functionality
of the related monitoring systems. We continually monitor the compliance with these mea-
sures and guidelines, and also the functionality and reliability of our internal control sys-
tem, through a company-wide internal audit process.
Our risk management system complies with the requirements of the German Corporation
Act (AktG). Our risk management system is designed to enable the Managing Board to recog-
nize potential risks early on and initiate timely countermeasures.
In accordance with the resolution made at the Annual Shareholders’ Meeting, KPMG
Deutsche Treuhand-Gesellschaft Aktiengesellschaft has audited the consolidated fi nancial
statements and management’s discussion and analysis, and issued an unqualifi ed opinion.
Together with the independent auditors, the Supervisory Board has thoroughly examined
the consolidated fi nancial statements, management’s discussion and analysis, and the inde-
pendent auditors’ report. The result of this examination is included in the Report of the
Supervisory Board which begins on page 6 of this Annual Report.
The Managing Board
of Siemens Aktiengesellschaft