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METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss
→ noTes : oTHeR noTes
found in the extensive remuneration report in chapter 8 of the
Group management report.
Compensation of members of the Supervisory Board
The total remuneration of all members of the supervisory
Board in the financial year 2011 amounted to €1.7 million
(previous year: €1.7 million).
additional information on the remuneration of members of
the supervisory Board can be found in the extensive remuneration
report in chapter 8 of the Group management report.
50. Auditor’s fees
The following fees related to the services rendered by the
auditor KpMG aG Wirtschaftsprüfungsgesellschaft were
recorded as expenses. In the past, fees charged by the auditor’s
associated companies were also stated. In practice,
however, the prevailing view has emerged that only the total
fee charged by the auditor in the legal sense, that is, the
legally independent company, should be stated. The prioryear
figures have been adjusted accordingly.
€ million 31/12/2010 1 31/12/2011
audit 9 8
other certification or evaluation services 2 2
Tax consultation services 1 1
other services 3 4
1 adjustment due to revised disclosure
15 15
only services that are consistent with the task of the auditor
of the annual financial statements of MeTRo aG were
provided.
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51. Declaration of compliance with the
german Corporate governance Code
The Management Board and the supervisory Board in December
2011 made a declaration of compliance with the recommendations
of the Government Commission on the German
Corporate Governance Code pursuant to § 161 of the German
stock Corporation act, which can be accessed on the
MeTRo aG website (www.metrogroup.de).
52. Election to be exempt from §§ 264 section 3 and
264b of the german Commercial Code
The following domestic subsidiaries in the legal form of stock
corporations or partnerships will use the exemption requirements
according to § 264 section 3 and § 264b of the German
Commercial Code, and will thus refrain from disclosing their
annual financial statements for 2011 as well as mostly from
disclosing their notes and management report (according to
the German Commercial Code).