Siemens 2012 Annual Report Download - page 308

1 A. To our Shareholders 49 C. Combined Management Report 21 B. Corporate Governance

> Comfort letters
> Employee benefit plan audits
> ISAE  / SSAE  reports
> Attestation services subject to regulatory
requirements, including regulatory advice
> Attestation and audits in connection with
the European Community Directive on Waste
Electrical and Electronic Equipment
> Attestation of compliance with provisions or
calculations required by agreements
> Attest services in accordance with applicable
standards, other than audit services required by
statute or other regulation
Services that are not generally pre-approved as audit or audit-
related services require specific pre-approval by the Audit
Committee. An approval may not be granted if the service falls
into a category of services not permitted by current law or if it
is inconsistent with ensuring the auditor’s independence, as
expressed in the four principles promulgated by the U.S. Secu-
rities and Exchange Commission: () an auditor may not act as
management or an employee of the audit client; () an auditor
may not audit his or her own work; () an auditor may not
serve in an advocacy role for his or her client; and () an audi-
tor may not provide services creating a mutual or conflicting
interest between itself and the audit client.
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
The Managing board and the Supervisory board of Siemens
Aktiengesellschaft provided the certification required by
Section  of the German stock corporation law (AktG) as of
October , , which is available on the Company ’s website
at ../-.
The Managing board and the Supervisory board of IBS AG ex-
cellence, collaboration, manufacturing, currently Siemens’
sole German publicly traded subsidiary provided the certifica-
tion required by Section  of the German stock corporation
law (AktG) as of May , , which is available at
.-.//-/-
.
  Subsequent events
After the end of fiscal , Siemens announced the acquisi-
tion of LMS International NV, of Belgium, a leading provider of
mechatronic simulation solutions. With the acquisition, which
will be integrated in the Industry Sector’s Industry Automation
Division, Siemens intends to expand and complement the In-
dustry Sector’s product lifecycle management portfolio with
mechatronic simulation and testing software. The purchase
price amounts to approximately € million. The transaction
is subject to approval by regulatory authorities. Closing is ex-
pected in the second quarter of fiscal .
Also after the end of fiscal , Siemens announced that it
plans to divest the business activities included in the Industry
Sector’s Water Technologies Business Unit, which was part of
the Industry Automation Division as of September , .
The Business Unit’s offerings comprise solutions for municipal
and industrial water purification and wastewater treatment.