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Daimler 360 GRAD - FAKTEN zur Nachhaltigkeit 2008 Daimler Nachhaltigkeitsbericht 2008 / Managing sustainability / Responsible corporate management / Risk management system / Structure of the risk management system* Structure of the risk management system* The risk management system is an integral part of the overall planning, control, and reporting process in all the relevant legal entities and central functions. It is based on a risk management handbook that describes in detail the methodological and procedural framework of risk management at Daimler AG. The aim of the process is to identify risks and evaluate them in terms of their probability and the amount of damage they could cause. Key risk categories that are monitored individually and in terms of their combined effect include the following: economic risks (for example, risks due to overall economic development in the core markets or the development of raw material prices); sector-specific and company-specific risks, including the images of all the Daimler brands, product quality, legal requirements and political circumstances, supplier risks, unforeseen events, and environmental risks — with regard to products (integration of environmental protection into the development process) as well as production; risks connected with financial markets (including market risks due to fluctuating exchange rates, interest rates, and share prices) The responsible persons also have the task of developing, and initiating as required, measures to avoid, reduce, and hedge risks, and to monitor risks within the framework of a regular controlling process. The risk management system enables the Board of Management to identify key risks at an early stage and to initiate suitable countermeasures. The Corporate Auditing department supports the Board of Management in monitoring the various functions and business units of our company. The integrated early warning system for risks, as well as the structure and implementation of risk management, are reviewed not only by the Corporate Auditing department but also by the auditors of our Consolidated Financial Statement. By means of risk-oriented reviews, the Corporate Auditing department helps to make corporate processes efficient and effective and to improve management quality in a sustained manner. As part of its review activities, the Corporate Auditing department informs the Board of Management, the Audit Committee, and the auditors of our Consolidated Financial Statement about its conclusions, suggestions for improvement, and the extent to which the suggestions have been implemented. As part of a reorganization process, the Corporate Audit department centralized all auditing functions, which had previously been distributed among various locations, in 2006. This made it possible to standardize and uniformly apply auditing processes throughout all the business areas and functions and to strengthen the independence of the Corporate Auditing department within the Group. We continued this process in 2007 and intensified it by creating a functionally oriented organization. By increasing the rotation of the employees in Corporate Auditing, we ensure, on the one hand, that the department has the requisite knowledge of all Group functions and business areas and, on the other, that the people going back into the business units promote risk awareness there. Further information is available in our Annual Report 2007. * Content on this page is available exclusively on the Internet.
Daimler 360 GRAD - FAKTEN zur Nachhaltigkeit 2008 Daimler Nachhaltigkeitsbericht 2008 / Managing sustainability / Responsible corporate management / Risk management system / Compliance with competition law* Compliance with competition law* Daimler's policy on antitrust issues is stipulated in its Integrity Code (page 20). Here it is stated that the company "complies fully with all applicable antitrust and trade laws and the corresponding laws on price setting, competition law, and consumer protection." It is further stated that these laws regulate "the company's relations with its competitors, suppliers, dealers, and customers. They prohibit agreements and other activities that fix or influence prices or conditions, divide up sales territories or customers, or illegally restrict free and open competition." Employees who have questions about these laws are asked to contact the Legal Affairs department. Integrity Code (PDF, 148 KB) Daimler AG Code of Ethics (PDF, 96 KB) * Content on this page is available exclusively on the Internet.
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