Siemens 2010 Annual Report Download - page 138

6 To our shareholders 21 Corporate Governance 49 Combined management’s discussion and analysis
50 Business and operating environment
78 Fiscal  – Financial summary
81 Results of operations
98 Financial position
110 Net assets position
113 Overall assessment of the economic position
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earlier. In fiscal ,  of these incidents were substantiated
and required further inquiries or investigations in order to
clarify the reported incidents (fiscal : ).
In fiscal , Siemens has strengthened its compliance orga-
nization by focusing on operations-related tasks. The Chief
Compliance Officer will manage all operations-related and
sales-related topics. The newly created position of Chief Coun-
sel Compliance will be responsible for all legal aspects of
compliance.
In fiscal , we will continue to strengthen compliance as a
business responsibility within our Company. Projects to further
optimize our compliance-risk analyses and other compliance-
related processes are key undertakings in this regard. Our col-
lective action efforts and our Siemens Integrity Initiative,
which will support organizations and projects that fight cor-
ruption and fraud through collective action, education and
training, demonstrate our constant commitment to combat
corruption in our markets.
On October , , the Company received the Year Two Re-
port from the Compliance Monitor Dr. Theo Waigel, whom
Siemens had engaged as part of the settlement reached with
U.S. authorities in December . As was set forth in the
Settlement Agreement with the U.S. Securities and Exchange
Commission (SEC) and the U.S. Department of Justice (DOJ),
this Year Two Report contains () an evaluation of the recom-
mendations from the Year One Report and () new recommen-
dations reasonably designed to improve the effectiveness of
Siemens’ program for ensuring compliance with anti-corrup-
tion laws, plus () a certification of the Compliance Monitor
that Siemens’ Compliance Program, including its policies and
procedures, is reasonably designed and implemented to detect
and prevent violations within Siemens of the anti-corruption
laws.
Corporate citizenship
Siemens Corporate Citizenship focuses on activities beyond
our actual business operations, that provide a long-term ben-
efit to the societies in which we operate. We deploy many dif-
ferent resources to act on this commitment, with a particular
emphasis on our Company ’s specific competencies. We ac-
tively engage in social and environmental projects, and we
particularly support employee volunteering. Fundamental to
this engagement is our commitment to the UN Global Compact
and the UN Millennium Development Goals.
As such, our corporate citizenship activities focus on three ar-
eas: environmental protection, education, and humanitarian
and social aid.
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We use our corporate citizenship activities to protect the
environment.
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We promote education and training for young people – espe-
cially in mathematics, information science including com-
puter science, natural sciences and technology.
> We maintain an ongoing dialogue with key opinion-makers,
particularly where we can contribute our expertise to help
society make informed decisions. We work to improve living
conditions in the societies we serve. We also provide techni-
cal and humanitarian aid following natural disasters.
> In addition, we promote contemporary arts and culture.
The Siemens Stiftung – The Siemens Stiftung, a nonprofit
foundation under German civil law, was founded in the fall of
 with a starting capital of € million. It sustains and
strengthens the tradition of more than  years of commu-
nity engagement of Siemens AG. The foundation started its
activities on January , , and has since been working with
projects to strengthen civil society particularly in Africa, Latin
America and Europe. Its aim is to make a long-term contribu-
tion to reducing poverty and fostering equal opportunity. The
foundation operates in three areas: It supports enlarging basic
services and improving social structures; initiates educational
projects; and contributes to strengthening cultural identity.
The over-arching principle for the foundation’s work is to help
people help themselves. The Siemens Stiftung works in close
cooperation with local and international partners as well as in
alliance with other Siemens foundations in Argentina, Brazil,
France, Colombia and the United States.