No power train without Miba technology

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Organization of financial reporting
The Corporate Finance department at the Laakirchen site, which reports directly to the
Management Board, is responsible for the group financial statements of the Miba Group.
In Laakirchen, the individual companies are combined, consolidation measures are carried
out, and the consolidated financial statements are processed for external reporting by the
central Corporate Finance department with use of established consolidation software.
Consistent Group-wide requirements such as binding statement deadlines, signature
requirements, regulations about separation of functions, etc., are issued centrally by
Holding. Those responsible at local sites implement these requirements in a decentralized
manner. Compliance with these regulations is monitored by responsible parties at local
sites, by Holding through the audit, and by external auditors in the course of auditing the
financial statements of individual companies.
The consolidated financial statements of the Miba Group are prepared in compliance with
those IFRS and interpretations of the International Financial Reporting Interpretations
Committee (IFRIC) which have been accepted by the European Commission for incorporation
into EU law by the end of the reporting period and are considered mandatory as of
the reporting date. Employees entrusted with the application and implementation of
currently valid IFRS attend IFRS training sessions and updates over the course of the year
in order to ensure financial reporting that conforms to IFRS.