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Software AG GB 2013. englisch

GroupManagementReport management-relevant figures monthly to the Management Board. In addition, both operational and strategic risks are analyzed by means of a structured reporting system. It shows developments in all relevant departments using KPIs and reports them quarterly to the Management Board. b) Finance All accounting decisions relevant to the Company’s financial statements as well as the revenue calculation process are monitored and/or executed by the global Corporate Finance department. This ensures compliance with IFRS accounting regulations throughout the Company. c) Treasury The Corporate Treasury team creates daily cash and weekly hedging transaction reports for the Management Board. All high-risk foreign-currency and hedging transactions may be conducted only by the Corporate Treasury team, which is directly below the CFO. The national subsidiaries are forbid- den by a global treasury policy from engaging in any high- risk transactions with derivatives. Regular internal audits monitor compliance with this policy. d) Internal Audit Software AG’s Internal Audit is an active component of the Company’s risk management system. Through a systematic and targeted approach, it ensures the effectiveness of risk management along with the evaluation and continual im- provement of the internal control systems and the manage- ment and supervision processes. It is also geared to the creation of added value for Software AG by optimizing busi- ness processes. Internal Audit reports directly to the CEO and operates worldwide. Risk management in the financial reporting standards process The risk of financial reporting errors was largely eliminated through implementation of the following processes: for ongoing monitoring of the risk areas identified, which address the development of the entire Company as well as department-specific issues. The Management Board receives ongoing information as to current and future risks and op- portunities as well as the aggregated risk and opportunity situation via established channels. Software AG updates and monitors the applicable specifications for preventing and reducing threats on an ongoing basis throughout the Group. Central responsibility for Group-wide processes Risks and opportunities throughout the world are managed and controlled by the teams at corporate headquarters re- sponsible for risk management for both Software AG and its subsidiaries. Corporate headquarters compiles risk and op- portunity reports, initiates further development of our risk management system and elaborates risk-mitigating guide- lines for the entire Group. We constantly review the func- tioning and reliability of the system as well as the reporting. Software AG’s internal control system has operationalized business risks by way of internal policies on business policies and practices, as well as Group-wide specification of effective internal controls, compliance with which are continually monitored. The defined policies regulate internal procedures and areas of responsibility at the global and local levels. They are designed to provide information for management and to monitor the operating business risks of the Software AG Group. In order to enhance transparency, administration, communication and compliance assessment of the policies are carried out centrally. Another component of risk and opportunity management is the transfer of operating risks to insurance carriers. The General Services department at corporate headquarters coordinates this function globally. Structure of the risk management system a) Controlling Controlling—which is under unified global leadership—­ monitors operating business risks in real time and reports 99 Corporate Governance Report of the Supervisory Board Consolidated Financial Statements Notes Additional Information Group Management Report Business and General Conditions Economic Report Events after the Balance Sheet Date Risk and Opportunity Report Remuneration Report Forecast Takeover-related Disclosures Statement on Corporate Governance

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