Untitled - GIZ

Report of the Supervisory Board
1
Report of the
Supervisory Board
In the year under review, the Supervisory Board was continuously
informed on management policy, the state of operations, and the
liquidity and profitability of the company.
Three ordinary meetings of the Supervisory Board and one
meeting of the Audit Committee were held in fiscal year 2011.
Particular attention was paid to implementing the merger effective
from 1 September 2010, the organisational and substantive in t e­
gration of predecessor organisations, integration of the accounting
system, and the conversion of grant-based procedures to the
commissioning procedure for the former DED and InWEnt by
the end of the fiscal year.
of accounts and gives an accurate overall picture of the company’s
circumstances and of the risks for its future development.
At its meeting of 25 June 2012, the Supervisory Board approved
the results of the audit of the annual statement of accounts for
2011 carried out by the auditors and the Supervisory Board Audit
Committee. The results did not give rise to any objections.
The Supervisory Board recommends that the shareholder adopt
the annual statement of accounts 2011 and give formal approval
to the acts of the Management Board.
The GIZ annual statement of accounts 2011 presents an entire
fiscal year for the integrated company for the first time.
The auditors PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft
examined the annual statement of
accounts and management report to establish that they comply
with the law, the supplementary provisions of the Articles of
Association concerning the annual statement of accounts and
management report, and with generally accepted accounting
principles. They confirm that the bookkeeping system and the
annual statement of accounts comply with the law, that the annual
statement of accounts gives a true and fair view of the company’s
net assets, financial position, and results of operations and that
the management report is consistent with the annual statement
Berlin, 25 June 2012
Hans-Jürgen Beerfeltz
Chairman of the Supervisory Board