Siemens 2013 Annual Report Download - page 112

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the additional requirements of German law set out in Section 315a (1) of the German
Commercial Code (HGB). The financial statements also comply with the IFRS, as issued by
the International Accounting Standards Board (IASB). The independent auditors conducted
their audit in accordance with Section 317 of the HGB and in compliance with the generally
accepted German standards for the audit of financial statements promulgated by the
Institut der Wirtschaftsprüfer (IDW) and with the International Standards on Auditing (ISA).
The above-mentioned documents as well as the Managing Board’s proposal for the appro-
priation of net income were submitted to us by the Managing Board in a timely manner.
The Audit Committee discussed the dividend proposal in detail at its meeting on November 5,
2013. It discussed the stand-alone Financial Statements of Siemens AG, the Con solidated
Financial Statements of the Siemens Group and the Combined Management Report in detail
at its meeting on November 26, 2013.
The audit reports prepared by Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft were
distributed to all members of the Supervisory Board and comprehensively reviewed at the
Supervisory Board’s meeting on November 27, 2013 in the presence of the independent
auditors, who reported on the main findings of their audit. The independent auditors also
reported that there were no major weaknesses in the Company’s internal audit or risk man-
agement systems. At this meeting, the Managing Board explained the financial statements
of Siemens AG and the Siemens Group as well as the Company’s risk management system.
The independent auditors also discussed the scope, focal points and costs of the audit.
The Supervisory Board concurs with the results of the audit. Following the definitive find-
ings of the Audit Committee’s examination and our own examination, we have no objec-
tions. The Managing Board prepared the stand-alone Financial Statements of Siemens AG
and the Consolidated Financial Statements of the Siemens Group. We approved the stand-
alone Financial Statements and the Consolidated Financial Statements. In view of our
approv al, the stand-alone Financial Statements are accepted as submitted. At our meeting
on November 27, 2013, we endorsed the Managing Board’s proposal that the net income
available for distribution be used to pay out a dividend of €3.00 per share entitled to a
dividend and that the amount of net income attributable to shares of stock not entitled to
receive a dividend for fiscal 2013 be carried forward.
On behalf of the Supervisory Board, I would like to thank the members of the Managing
Board and the employees and employee representatives at all Siemens companies for
their outstanding commitment and constructive cooperation over the last few unsettled
months at our Company.
For Siemens, 2013 was an eventful year marked by major changes. We must now join
forces under Mr. Kaeser’s leadership in order to narrow the gap to our competitors.
For the Supervisory Board
Dr. Gerhard Cromme
Chairman