Siemens 2012 Annual Report Download - page 324

1 A. To our Shareholders 49 C. Combined Management Report 21 B. Corporate Governance

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 rec-
ommendations to the full Supervisory Board on the appoint-
ment and revocation of the appointment of Managing Board
members, handles the employment contracts of Managing
Board members and prepares the Supervisory Board’s decision
regarding Managing Board compensation and its review of
the system of Managing Board compensation. The Chairman’s
Committee concerns itself with issues relating to corporate
governance at the Company and prepares the Supervisory
Board’s decision regarding the Declaration of Conformity with
the German Corporate Governance Code. In addition, the
Committee makes recommendations to the full Supervisory
Board on the composition of Supervisory Board committees
and decides whether to approve business transactions with
Managing Board members and parties related to them.
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 inde-
pendence) and monitors the effectiveness of the Company’s
internal control system, risk management system and internal
audit system.
Hans Michael Gaul, Dr. iur. , 
(Chairman)
Gerhard Cromme, Dr. iur. 
Bettina Haller
Jürgen Kerner
Birgit Steinborn
Lord Iain Vallance of Tummel
Compliance
Committee
The Compliance Committee concerns itself with the Company ’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  para.  and Section  para.  of the German
Stock Corporation Act (Aktiengesetz)
...   
The Supervisory Board of Siemens AG has established six
standing committees. Information on their activities in fiscal
 is provided in      ,
 - above.