No power train without Miba technology

Building on this, the processes to be documented and updated, as well as the extent of
internal review necessary, are determined each year on the basis of qualitative criteria and
quantitative aspects of materiality. The review of selected processes and controls is
carried out through internal as well as external auditing. During the external audit, the Miba
management relies on financial statements reviewed by independent auditors, which are
carried out for every consolidated Group company without exception. The Management
Board and the Audit Committee created by the Supervisory Board are regularly informed
about the accounting-related internal control and risk management system. Once a year,
a Group-wide risk management and ICS report is brought before these bodies. In the
event that considerable controlling weaknesses or significant effects of these weaknesses
on the consolidated financial statements are identified, these problems are presented in
the Group report.
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