Siemens 2011 Annual Report Download - page 351

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153 D. Consolidated Financial Statements 273 E. Additional information
158 D. Consolidated Statements of Changes in Equity
160 D. Notes to Consolidated Financial Statements
266 D. Supervisory Board and Managing Board
154 D. Consolidated Statements of Income
155 D.2 Consolidated Statements of Comprehensive Income
156 D. Consolidated Statements of Financial Position
157 D. Consolidated Statements of Cash Flow

While non-audit-related services are not prohibited by law, ex-
cept for certain types of non-audit services enumerated in the
SEC’s rules, the Audit Committee has decided as a matter of
policy not to engage the principal accountant to provide non
audit-related services unless there is a compelling advantage
to the Company in using the principal accountant and it can
clearly be shown that there is no impairment of independence.
 – Corporate Governance
Siemens Aktiengesellschaft, currently the sole German pub-
licly traded corporation consolidated by the Company, provid-
ed the certification required by Section  of the German
stock corporation law (AktG). Siemens Aktiengesellschaft
made the certifications available to its shareholders.
 – Subsequent events
In November , NSN announced its strategy to focus its
business activities on mobile broadband and services and to
initiate restructuring measures aimed at reducing operating
expenses and production overheads. These restructuring
measures include plans to reduce NSN’s global workforce by
approximately ,. Siemens expects the restructuring
measures to result in a substantially higher loss related to its
share in NSN in fiscal  compared to fiscal .
Also in November , the Healthcare Sector announced an
initiative aimed at increasing the Sector’s innovative capaci-
ty and competitiveness. The initiative includes higher invest-
ments in product development and expanded sales activities
as well as measures aimed at realigning the radiation thera-
py business and a program to improve the cost position in
the Diagnostics Division. The initiative is expected to result
in charges.