Siemens 2013 Annual Report Download - page 350

92 A. To our Shareholders 117 B. Corporate Governance 155 C. Combined Management Report
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D.7.1.1 SUPERVISORY BOARD COMMITTEES
The Supervisory Board of Siemens AG has established seven
standing committees. Information on their activities in fiscal
2013 is provided in A.3 REPORT OF THE SUPERVISORY BOARD,
pages 108-109 above.
Committees Meetings
in fiscal 
Duties and responsibilities Members
as of September , 
Chairman’s
Committee
9
3 decisions by
notational voting
using written
circulations
The Chairman’s Committee performs the collective tasks of a
nominating and corporate governance committee to the extent
that such tasks are not performed by the Nominating Committee
and German law does not require that such tasks be performed
by the full Supervisory Board. In particular, the Committee makes
proposals regarding the appointment and dismissal of Managing
Board members and handles contracts with members of the
Managing Board. The Chairman’s Committee concerns itself with
questions regarding the Company’s corporate governance and
prepares the resolutions to be approved by the Supervisory Board
regarding the Declaration of Conformity with the Code, including
the explanation of deviations from the Code, and regarding the
approval of the Corporate Governance Report and the Report of
the Super visory Board to the Annual Shareholders’ Meeting. Further-
more, the Committee submits recommendations to the Super-
visory Board regarding the composition of Supervisory Board com-
mittees and decides whether to approve business transactions
with Managing Board members and parties related to them.
Gerhard Cromme, Dr. iur.
(Chairman)
Josef Ackermann, Dr. oec. 
Lothar Adler
Berthold Huber
Werner Wenning 
Compensation
Committee
1
1 decision by
notational voting
using written
circulations
The Compensation Committee prepares the proposals for decisions
by the Supervisory Board’s plenary meetings regarding the system
of Managing Board compensation, including the implementation
of this system in the Managing Board contracts, the definition of
the targets for variable Managing Board compensation, the deter-
mination and review of the appropriateness of the total compensa-
tion of individual Managing Board members and the approval of
the annual Compensation Report. In addition, the Compensation
Committee prepares the regular review by the Supervisory Board’s
plenary meetings of the system of Managing Board compensation.
Werner Wenning
(Chairman)
Josef Ackermann, Dr. oec. 
Lothar Adler
Gerhard Cromme, Dr. iur.
Michael Diekmann 
Berthold Huber
Birgit Steinborn
Audit Committee 6 The Audit Committee oversees the accounting process. It also pre-
pares the Supervisory Board’s recommendation to the Annual
Shareholders’ Meeting concerning the election of the independent
auditors and submits the corresponding proposal to the full Super-
visory Board. In addition to the work performed by the indepen-
dent auditors, the Audit Committee also discusses the Company’s
financial statements, which are prepared by the Managing Board
quarterly, half-yearly and annually. On the basis of the indepen-
dent auditors’ report on the annual financial statements, the Audit
Committee makes, after its own review, recommendations to the
Supervisory Board regarding the approval of the Annual Financial
Statements of Siemens AG and the Consolidated Financial State-
ments of Siemens worldwide. It concerns itself with the Company’s
risk monitoring system and oversees the effectiveness of the inter-
nal control system as this relates, in particular, to financial report-
ing, the risk management system and the internal audit system.
The Internal Audit Department reports regularly to the Audit Com-
mittee. The Audit Committee awards the audit contract to the
independent auditors elected by the Annual Shareholders’ Meeting
and monitors the independent audit of the financial statements –
including, in particular, the auditors’ independence, professional
expertise and services – and performs other functions assigned to
it under the Sarbanes-Oxley Act (SOA).
Hans Michael Gaul, Dr. iur. , 
(Chairman)
Josef Ackermann, Dr. oec. 
Gerd von Brandenstein 
Gerhard Cromme, Dr. iur. 
Bettina Haller
Robert Kensbock 
Jürgen Kerner
Jim Hagemann Snabe 
Birgit Steinborn