The main principles applied in our corporate governance
German Corporate Governance Code
Beyond the legal requirements of German stock corporations, codetermination and capital market legislation,
The principles guiding our conduct
Our business conduct is based on Group-wide standards that go beyond the requirements of relevant legislation and the German Corporate Governance Code. These standards are based on our four corporate values integrity, respect, passion and discipline. In order to achieve viable and thus sustainable business success on this basis, our goal is to ensure that our activities are in harmony with the environment and society. This is due to the fact that we, as one of the world’s leading automakers, also strive to be a leader in sustainability. We have defined the most important principles in our Integrity Code, which serves as a frame of reference for compliant and ethical conduct in everyday activities for all employees at
Our Integrity Code is based on a shared understanding of values, which we developed together in a dialogue with Daimler employees. The Code defines our principles of behavior in daily business. This applies to interpersonal conduct within the company as well as conduct toward customers and business partners. These central principles include compliance with laws, as well as fairness and responsibility, for example. In addition to general principles of behavior, the Code includes requirements and regulations concerning respect for and the protection of human rights and dealing with conflicts of interest. It also prohibits all forms of corruption. The Integrity Code applies to all companies and employees at the Daimler Group worldwide. The Integrity Code is available at daimler.com/dai/caag.
We have also reached agreement on “Principles of Social Responsibility” with the World Employee Committee. These principles apply at
Expectations for our business partners
We also require our business partners to adhere to compliance stipulations because we regard our business partners’ integrity and behavior in conformity with regulations as an indispensable prerequisite for trusting cooperation. When selecting our direct business partners, we therefore pay close attention that they comply with the law and follow ethical principles, and that they pay the same attention themselves towards other partners in the supply chain. For the expectations we place on our business partners, see also daimler.com/sus/obr.
Risk management at the Group
Daimler has a risk management system commensurate with its size and position as a company with global operations
Accounting and the external audit
Daimler prepares its consolidated financial statements and interim financial reports in accordance with the International Financial Reporting Standards (IFRS), as adopted by the European Union. The annual financial statements of
Based on the recommendation of the Audit Committee, the Supervisory Board submits a decision proposal to the Shareholders’ Meeting for the election of the external auditors for the annual company financial statements, for the consolidated financial statements and for the auditors’ review of interim financial reports. At the Annual Shareholders’ Meeting on April 5, 2018, KPMG AG Wirtschaftsprüfungsgesellschaft, Berlin, was elected to conduct the audit of the annual company financial statements and consolidated financial statements, and the external auditors’ review of interim financial reports, for financial yea
Prior to issuing its recommendation to the Annual Shareholders’ Meeting, the Audit Committee of the Supervisory Board obtained a declaration from the external auditors under consideration. The external auditors were requested to state whether any business, financial, personal or other relationships existed between the external auditors and their bodies and audit managers on the one hand, and the Company and the members of its bodies on the other, which could justify concerns regarding a conflict of interest. This statement also describes the extent to which other services were performed for the Daimler Group in the previous year or had been contractually agreed upon for the following year.
The Audit Committee instructed the external auditors to immediately inform the Committee Chairman of any indications of partiality or grounds for exclusion uncovered during the audit or the auditors’ review of interim financial statements, and of all key findings and events relevant to the tasks of the Supervisory Board, particularly findings or events related to suspected irregularities in accounting. The Audit Committee also reached an agreement with the external auditors stipulating that the external auditors would inform the Audit Committee, and make a note in the audit report, of any facts uncovered during the annual audit that would reveal inaccuracies in the Board of Management’s and the Supervisory Board’s declaration of compliance with the German Corporate Governance Code.