Siemens 2011 Annual Report Download - page 368

6 A. To our shareholders 51 C. Combined management’s discussion and analysis 23 B. Corporate Governance

The Supervisory Board of Siemens AG has established six standing committees. Information on their activities in fiscal  is provided on
pages  - of Part II of this Annual Report.
Committees Meetings
in fiscal 
Duties and responsibilities Members
as of September , 
Chairman’s
Committee

 decisions
by notational
voting using
written
circulations
The Chairman’s Committee deals, in particular, with matters
concerning the Managing Board. The Committee makes
recommendations to the full Supervisory Board on the
appointment and revocation of the appointment of Managing
Board members and lays the groundwork for Supervisory
Board decisions regarding the system of Managing Board
compen sation and the total compensation of each Managing
Board member. In addition, the Committee makes recommen-
dations to the full Supervisory Board on the composition of
Supervisory Board committees. It decides whether to approve
business transactions with Managing Board members and
parties related to them. The Chairman’s Committee also con-
cerns itself with issues relating to corporate governance.
Gerhard Cromme, Dr. iur.
(Chairman)
Lothar Adler
Josef Ackermann, Dr. oec.
Berthold Huber
Audit
Committee
 The Audit Committee’s duties include, in particular, preparing
Supervisory Board reviews of the annual financial statements
of Siemens AG and of the Consolidated Financial Statements
of Siemens worldwide. The Committee also discusses the
Company ’s quarterly reports and half-year financial reports,
liaises with the independent auditors (particularly with regard
to awarding the audit contract, defining the focal points of
the audit, determining the auditors’ fee and ensuring their
independence) and monitors the effectiveness of the Com-
pany’s internal control system, risk management system and
internal audit system.
Hans Michael Gaul, Dr. iur. , 
(Chairman)
Gerhard Cromme, Dr. iur. 
Bettina Haller
Dieter Scheitor
Birgit Steinborn
Lord Iain Vallance of Tummel
Compliance
Committee
 The Compliance Committee concerns itself with the Com-
pany ’s adherence to statutory provisions, official regulations
and internal Company policies.
Gerhard Cromme, Dr. iur.
(Chairman)
Lothar Adler
Hans Michael Gaul, Dr. iur.
Bettina Haller
Lord Iain Vallance of Tummel
Sibylle Wankel
1 Audit committee financial expert as defined by the Sarbanes-Oxley Act
2 Fulfills the requirements of Section , paragraph  and Section , paragraph  of the German Stock Corporation Act (Aktiengesetz)
D... SUPERVISORY BOARD COMMITTEES